Hong Kong SFC Chief Urges Faster Fixed Income Market Development

MT Newswires Live07-08

Hong Kong's Securities and Futures Commission Chief Executive Officer Julia Leung called for faster implementation of the fixed-income and currency market roadmap, citing growing global demand for diversified investments and renminbi assets.

Speaking at the Hong Kong FIC & Bond Connect Summit on Tuesday, Leung said Hong Kong should focus on developing a fixed-income and currency trading platform, expanding the use of fixed-income securities as collateral, and introducing more risk management tools.

She noted that the People's Bank of China has announced a new electronic fixed-income and currency trading platform to be jointly developed by the China Foreign Exchange Trade System and Hong Kong Exchanges and Clearing.

She also said a five-year China government bond futures contract is scheduled to launch on HKEX on Aug. 3, with more renminbi-related futures products under consideration.

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