HKEX signs MoU with CMU OmniClear
04 March 2025 Hong Kong
Image: Dede/stock.adobe.com
Hong Kong Exchanges and Clearing (HKEX) has signed a Memorandum of Understanding (MoU) with CMU OmniClear to enhance the region’s post-trade securities infrastructure.
In addition, it will look to support the long-term development of the city’s fixed-income and currencies (FIC) ecosystem.
CMU OmniClear is a company established to carry out the operations of the Central Moneymarkets Unit (CMU) on behalf of the Hong Kong Monetary Authority (HKMA).
Through this collaboration, the parties aim to realise cross-asset class efficiencies across equities and fixed income, expand the mobilisation of Chinese bonds as collateral, enhance Hong Kong as a bond issuance centre, and develop an international central securities depository (ICSD) in Asia.
Bonnie Y Chan, CEO of HKEX, comments: “We look forward to working closely with the HKMA and CMU OmniClear to advance the development of Hong Kong’s fixed income market, enabling the next chapter of Renminbi internationalisation and enhancing Hong Kong’s status as an international financial centre, a global risk management centre, and an offshore RMB business hub.”
With strengthened collaboration between financial market infrastructures, the partnership seeks to enhance bond settlement and collateral management operations, and further expand risk management products.
CMU, Hong Kong’s fixed-income central securities depository (CSD) operated by CMU OmniClear, plays a key role in managing the settlement of bond transactions conducted on Bond Connect, as well as supporting the growth of Swap Connect by facilitating efficient use of collateral held with CMU.
HKEX and the HKMA have been collaborating on the development of these two Connect programmes since the launch of Bond Connect in 2017.
In addition, it will look to support the long-term development of the city’s fixed-income and currencies (FIC) ecosystem.
CMU OmniClear is a company established to carry out the operations of the Central Moneymarkets Unit (CMU) on behalf of the Hong Kong Monetary Authority (HKMA).
Through this collaboration, the parties aim to realise cross-asset class efficiencies across equities and fixed income, expand the mobilisation of Chinese bonds as collateral, enhance Hong Kong as a bond issuance centre, and develop an international central securities depository (ICSD) in Asia.
Bonnie Y Chan, CEO of HKEX, comments: “We look forward to working closely with the HKMA and CMU OmniClear to advance the development of Hong Kong’s fixed income market, enabling the next chapter of Renminbi internationalisation and enhancing Hong Kong’s status as an international financial centre, a global risk management centre, and an offshore RMB business hub.”
With strengthened collaboration between financial market infrastructures, the partnership seeks to enhance bond settlement and collateral management operations, and further expand risk management products.
CMU, Hong Kong’s fixed-income central securities depository (CSD) operated by CMU OmniClear, plays a key role in managing the settlement of bond transactions conducted on Bond Connect, as well as supporting the growth of Swap Connect by facilitating efficient use of collateral held with CMU.
HKEX and the HKMA have been collaborating on the development of these two Connect programmes since the launch of Bond Connect in 2017.
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