HKEX to Launch HKD-RMB Dual Counter Model on 19 June 2023

On June 19, 2023, the Hong Kong Exchanges and Clearing Limited (HKEX) plans to launch a new model and program called the Hong Kong Dollar (HKD)-Renminbi (RMB) Dual Counter Model, which aims to support the trading and settlement of RMB-denominated securities in Hong Kong. Interested parties may now apply to become a Dual Counter Market Maker for eligible securities under the Model, and these market makers will provide liquidity in the RMB counter and reduce price discrepancies between the HKD and RMB counters. The Model will allow investors to interchange securities listed in both HKD and RMB counters, and holdings of securities in the two counters can be transferred without changing beneficial ownership. HKEX has arranged testing and practice sessions between May and June to help market participants with the trading and settlement of securities under the Model.



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