HKEX Synapse is a new platform being launched by stock market operator Hong Kong Exchanges and Clearing Limited (HKEX).
With the use of blockchain technology, this platform can settle deals more quickly, with less chances of error, and with greater transparency. They will accomplish this by automating particular trade-related actions using smart contracts.
The Stock Connect initiative, which links the stock exchanges in Hong Kong and mainland China, includes this new platform. HKEX Synapse is set to become operational on October 9.
The next phase of expansion for foreign involvement in Mainland China’s equity markets will be supported by the launch of HKEX Synapse, a significant upgrade to our Stock Connect infrastructure, according to Glenda So, Head of Emerging Business and FIC at HKEX Group.
The use of DAML by HKEX Synapse, an open-source smart contract language, permits smooth data transfer between various blockchain platforms and conventional centralized databases.
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