HKEX rolls out HKD-Renminbi dual counter model

It will ease listing, trading, and settlement of RMB counters in Hong Kong. 

The Hong Kong Exchanges and Clearing Limited (HKEX) has introduced a new Hong Kong Dollar-Renminbi (HKD-RMB) Dual Counter Model and a Dial Counter Market Making Programme in its securities market. 

This is in support of the listing, trading, and settlement of RMB counters in Hong Kong.

“The introduction of the HKD-RMB Dual Counter Model and the Dual Counter Market Making Programme is an exciting new development in our market,” HKEX Chief Operating Officer and Co-Head of Markets Wilfred Yiu said. 

“These and other initiatives will help further facilitate and attract dual counter listings and help develop even greater synergies with our current China-related products. HKEX is committed to supporting the internationalisation of RMB and further elevating Hong Kong’s role as the world’s premier offshore RMB hub.”

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The new model allows investors to interchange securities listed in both HKD and RMB counters. 

Meanwhile, the programme is intended to support the liquidity of RMB counters as well as minimise price discrepancies between the two counters.