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Hong Kong Stock Exchange Considers Blockchain Settlement Upgrades

The Hong Kong Stock Exchange is looking to blockchain as it begins work on a next-generation transaction settlement system.

Jan 20, 2017 at 7:35 p.m. UTC
Updated Sep 11, 2021 at 1:01 p.m. UTC

The Stock Exchange of Hong Kong (SEHK) is looking to blockchain as it begins work on a next-generation transaction settlement system.

The disclosure came during comments given by SEHK chief executive Charles Li, who spoke during a media luncheon earlier today.

In response to a question about market infrastructure changes, Li said that, in addition to retooling its trading platforms, SEHK is weighing options for upgrading its post-trade systems as well. He mapped out a three-to-four year roadmap during which the exchange would seek to both cut costs and reduce risk across the its operations.

As part of that process, SEHK is considering blockchain for possible use.

Li explained to luncheon attendees:

“In 2016 we started to look at the role new technologies (such as cloud computing and distributed ledger) can play in our future development and this will continue in 2017 when we will determine our NextGen roadmap.”

SEHK has been holding exploratory conversations with exchange operator Nasdaq since as early as October, according to the South China Morning Post.

Hong Kong’s central bank has also been testing the tech, noting in a November white paper that blockchain “carries enormous potential”.

DISCLOSURE

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