New initiative aims to foster a new culture that is not constrained by traditional exchange frameworks.
The last time closing times were extended was in 1954, when they changed from 14:00 to 15:00 local time.
Bloomberg and CFETS improve Southbound Bond Connect trading efficiency with market maker indicative prices
Indicative prices from Hong Kong market makers are now available for onshore investors to view via the CFETS bond trading platform to improve price discovery.
The exchange group confirmed in June last year that it would be launching the hub as part of an ongoing market-wide scheme with the Monetary Authority of Singapore.
Land grab by major investment banks continues, following a change in Chinese regulation surrounding foreign ownership.
The new trading channel by MarketAxess will allow global investors to access the China Interbank Bond Market (CIBM) under the Bond Connect and CIBM Direct schemes.
Following the launch of Southbound Bond Connect, Bloomberg claimed to have facilitated trades for seven Hong Kong market makers via its Bloomberg Terminal.
The expansion comes as part of the exchange’s extended trading hours initiative originally launched in 2018.
The Taiwanese bank has gone live as a client clearing FX derivatives using the ForexClear service at LCH with UBS acting as the clearing broker.
Regulators give the green light to a Southbound Bond Connect channel, connecting Mainland China investors to the Hong Kong bond market to encourage outbound investment.