Hong Kong, 08/06/2023 – CLSA Limited (“CLSA”) is pleased to become one of the first batch Dual Counter Market Makers (“DCMMs”) under the HKD-RMB Dual Counter Model (“Dual Counter Model”) by Hong Kong Exchanges and Clearing Limited (“HKEX”).
HKEX announced on 5 June that the Dual Counter Model and the Dual Counter Market Making Programme will be launched on 19 June 2023. 21 securities are designated as Dual Counter Securities with effect from the launch of the Model. Nine exchange participants have been granted with a DCMM permit.
As a Dual Counter Market Maker, CLSA will conduct market making or liquidity providing activities for five Dual Counter Securities and may expand to provide liquidity for more securities in the future. The company will offer buy and sell quotes for the RMB-denominated securities trading, provide liquidity in the RMB counter, and minimise price discrepancies between the HKD and RMB counters.
This new model will support the trading and settlement of RMB-denominated securities in Hong Kong. As a first batch market maker, CLSA will fully commit to the development of this model, further contribute to the internationalization of RMB, and continuously enhance Hong Kong’s status as the world’s leading offshore RMB hub.
MEDIA CONTACTS
|
Jessica Zhang |
Gabriella Yu |