The new product is HKEX’s only CGB futures contract available in the offshore market and is expected to strengthen Hong Kong’s fixed income, currencies and Renminbi markets.
The move makes Malaysia’s stock exchange the fourth venue in Southeast Asia to hold this status and is set to enhance its cross-market connectivity.
The move marks a return to the buy-side firm for new hire, who previously spent five years at State Street Investment Management in various senior ETF-related roles.
The swaps were cleared through HKEX’s OTC Clear service; the firm said the expansion bolsters its position in the post-trade optimisation sphere in Asia.
New features are due to begin rolling out in mid-2025, with key upgrades set to include real-time data processing and real-time settlement instruction matching.
Incoming appointment returns to HKEX after initially serving for 15 years; previous experience includes roles at AIA Group, Goldman Sachs, UBS and PricewaterhouseCoopers.
New developments coincide with latest enhancements applicable to the Northbound Swap Connect scheme, which commence on Monday.
Current CEO announced he will not seek reappointment following the end of his contract in May next year; will be replaced by current co-chief operating officer.
The move will help increase international participation in China’s equities and fixed-income markets and increase investment and risk management opportunities in Hong Kong.
The Stock Connect development is aimed at standardising and streamlining post-trade workflows, enhancing operational efficiencies and transparency whilst reducing settlement risks.