Hong Kong Exchanges and Clearing Ltd (HKEX) has launched an order routing service on its integrated fund platform (IFP), which the exchange describes as an “important step forward in connecting key participants in the fund distribution lifecycle and enhancing the efficiency of Hong Kong’s fund management industry”.
The order routing service will help transform the fund order placement process, which includes subscriptions and redemptions, into a seamless and integrated system, HKEX says in a statement on July 3.
“By enhancing communications between fund distributors and transfer agents, this latest addition addresses longstanding operational challenges while promoting greater efficiency and collaboration across Hong Kong’s fund distribution network,” HKEX says.
The communications network of the service is supported by the Financial Data Exchange Platform Network of the Shenzhen Securities Communications, a unit of the Shenzhen Stock Exchange.
Bonnie Y Chan, chief executive officer of HKEX, says the 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.
“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,” she says.
Alongside the new service launch, the IFP also welcomes an initial cohort of 33 distributors, transfer agents and fund houses.
