Xinhua News Agency, Hong Kong, May 13 (Reporter Xie Niu) The Hong Kong Monetary Authority said on the 13th that "Swap Connect" has been running smoothly since its launch, and its business volume has continued to rise. In order to further promote the coordinated development of the financial derivatives markets in the Mainland and Hong Kong, and build a high-level financial opening pattern, the People's Bank of China, the Hong Kong Securities and Futures Commission, and the Hong Kong Monetary Authority, on the basis of summing up experience and carefully listening to the opinions and suggestions of investors, supported the further optimization of the "swap link" mechanism arrangement.

The optimization arrangement includes enriching the product types, launching the interest rate swap contract with the settlement date of the international monetary market as the payment cycle, integrating with the international mainstream transaction varieties, and meeting the diversified risk management needs of domestic and foreign investors. Improve supporting functions, launch contract compression services and historical value contracts with supporting support, facilitate participating institutions to manage the business scale of duration contracts, reduce capital occupation, and activate market transactions. In addition, the National Interbank Funding Center, the Inter bank Market Clearing House Co., Ltd., and Hong Kong OTC Clearing Co., Ltd. will also simultaneously introduce other system optimization and preferential measures to reduce the business participation costs of domestic and foreign investors.

The Hong Kong Monetary Authority said that, in the next step, the mainland and Hong Kong regulators will guide the financial market infrastructure institutions, continue to steadily and orderly promote the "swap link" business cooperation, continue to improve various mechanisms and arrangements, help steadily expand the opening up of China's financial market, and consolidate and enhance Hong Kong's position as an international financial center.

Share to let more people see