HKEX and HKMA Launch Pilot Project to Provide Digital Payment Solution for After-Hours Derivatives Trading

CoinFeed, June 18 - According to Jinshi reports, Hong Kong Exchanges and Clearing Limited (HKEX) and the Hong Kong Monetary Authority (HKMA) announced today (June 18) the launch of a joint pilot project to study the provision of a new digital payment solution during the after-hours trading session of the derivatives market. This pilot project aims to optimize Hong Kong's capital market and meet the growing demand for after-hours trading. HKEX and HKMA are studying the introduction of "Digital Hong Kong Dollar"—a wholesale central bank digital currency (CBDC) operating on a 24/7 basis—for the payment of initial margins during the after-hours trading session, in order to enhance the risk management capabilities of the derivatives market outside banking hours, while maintaining existing operational processes unchanged.