logo
HKEX launches order-routing service to enhance mutual fund distribution ecosystem

HKEX launches order-routing service to enhance mutual fund distribution ecosystem

Hong Kong Exchanges and Clearing (HKEX) has launched an order-routing service on its fund platform as part of its move to diversify its business and support the government's ambition to strengthen the city as an international wealth management centre.
Advertisement
'This centralised platform will connect participants of all sizes across the fund value chain, fostering greater collaboration and elevating operational efficiencies for the fund distribution industry,' CEO Bonnie Chan Yiting said at a ceremony to launch the service on Thursday.
'This offering underscores our commitment to further advance the development of Hong Kong's fund distribution ecosystem and to enhance its position as a leading hub for wealth and asset management in the region.'
The order-routing service on the exchange's fund platform was designed to facilitate seamless interaction between fund distributors and transfer agents with mutual fund companies. The funds' subscription and redemption information will be available electronically via the platform.
HKEX CEO Bonnie Chan Yiting said the launch of the order-routing service further advances the development of Hong Kong's fund distribution ecosystem. Photo: Edmond So
A total of 33 firms, mainly mainland Chinese banks and fund houses, will use the order-routing services. This includes 17 fund distributors like Bank of China (Hong Kong), Bank of Communications (Hong Kong), Chief Securities, China Construction Bank (Asia) and Haitong International Securities.
Advertisement
Ten fund houses, including BOCHK Asset Management, Bosera Asset Management (International) and CCB International, as well as six transfer agents like Bank of Communications Trustee, BOCI-Prudential Trustee, and State Street Bank and Trust, will use the platform.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump eyes autumn China trip, but September visit off the table: sources
Trump eyes autumn China trip, but September visit off the table: sources

South China Morning Post

time4 hours ago

  • South China Morning Post

Trump eyes autumn China trip, but September visit off the table: sources

US President Donald Trump is keen to visit China but a September visit is not happening, according to sources, who said Beijing and Washington were working to secure a trip in October or November. Hurdles remain, but high-level officials 'share a consensus', sources familiar with the matter told the South China Morning Post. Media reports earlier said that China planned to invite Trump to the Victory Parade in Beijing on September 3 to commemorate the 80th anniversary of the end of World War II. With September now off the table, Trump might visit China before heading to the Asia-Pacific Economic Cooperation (Apec) summit in South Korea, or he could meet Xi Jinping on the sidelines of the event between October 30 and November 1, according to sources. Sources also described the Kuala Lumpur meeting between Chinese Foreign Minister Wang Yi and his US counterpart Marco Rubio earlier this month as 'better than expected'. It was the first in-person engagement between the respective top diplomats – an essential step before any leader-level summit can occur – and both sides praised the meeting as 'positive'. Another person familiar with the discussions said there was a possibility of a meeting later this year, with two options under consideration: Trump could either visit China for bilateral talks before heading to the Apec summit, or attend Apec first and then travel to Beijing.

Chinese military blacklists aerospace institute over bid rigging
Chinese military blacklists aerospace institute over bid rigging

South China Morning Post

time6 hours ago

  • South China Morning Post

Chinese military blacklists aerospace institute over bid rigging

The People's Liberation Army (PLA) has barred a Chinese aerospace institute from bidding on tenders amid claims of bid rigging – the latest suspension in a year-long crackdown on military suppliers. In a notice on Thursday, the PLA's procurement oversight department said the Aerospace Information Research Institute (AIR) under the Chinese Academy of Sciences (CAS) was suspended from taking part in military procurement for goods, projects, and services. The notice said the suspension was a penalty for bid rigging and collusion, but did not say how long the ban would last. The institute was also put on a military procurement suspension list in January, disqualifying its joint bid with Tsinghua University for a 150 million yuan (US$21 million) project. Details of the projects were classified but other bidders included the CAS Shanghai Advanced Research Institute and China Electronics System Engineering Company, suggesting the tender was for communications infrastructure. The aerospace institute was formed in 2019 through a merger of CAS institutes specialising in electronics, remote sensing and optoelectronics. It carries out core research in communication and information processing, aircraft design, remote sensing radar systems and electronic countermeasure systems – areas closely aligned with military needs.

Alibaba previews its first AI-powered glasses, joining China's heated smart wearable race
Alibaba previews its first AI-powered glasses, joining China's heated smart wearable race

South China Morning Post

time6 hours ago

  • South China Morning Post

Alibaba previews its first AI-powered glasses, joining China's heated smart wearable race

Alibaba Group Holding has entered the fierce smart glasses race in China, previewing its first pair of AI-powered glasses at the World Artificial Intelligence Conference (WAIC) in Shanghai – the country's largest annual AI event. The Quark AI glasses, named after Alibaba's AI assistant, were showcased to the public for the first time at the event on Saturday. The company said it had completed development of the product and was aiming for an official launch this year, although no specific date was provided. This marks Alibaba's debut in the smart glasses market, which has seen heightened local competition as domestic firms like Rokid and Xreal have rushed to release new products in recent months. Alibaba, owner of the Post, also struck a partnership with augmented reality glasses maker RayNeo earlier this year to provide AI support for the Hong Kong-based company's products. 'AI glasses will become the most important form of wearable intelligence – it will serve as another pair of eyes and ears for humans,' said Song Gang, head of smart terminal business at Alibaba's Intelligent Information business group, during a sub-forum. The move by the Hangzhou-based tech giant is part of a broader strategy to enhance its AI offerings. In February, Alibaba committed to investing US$53 billion in AI infrastructure over the next three years. Alibaba is doubling down on its investments into AI software and hardware. Photo: AP

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store