Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Thursday) the launch of the Order Routing Service on its Integrated Fund Platform (IFP), marking an important step forward in connecting key participants in the fund distribution lifecycle and enhancing the efficiency of Hong Kong's fund management industry.
Building on the success of its Fund Repository, which has been welcomed by the industry for its functionality and ease of use, the introduction of the Order Routing Service will help transform the fund order placement process, which includes subscriptions and redemptions, into a seamless and integrated system. By enhancing communications between fund distributors and transfer agents, this latest addition addresses longstanding operational challenges while promoting greater efficiency and collaboration across Hong Kong's fund distribution network.
The communications network of the Order Routing Service is supported by the Financial Data Exchange Platform Network of the Shenzhen Securities Communication Co. Ltd, which is a unit of Shenzhen Stock Exchange.
HKEX Chief Executive Officer, Bonnie Y Chan, said: “We are delighted to announce the latest enhancement to the IFP with the launch of the Order Routing Service, designed to facilitate seamless interaction between distributors and transfer agents. This centralised platform will connect participants of all sizes across the fund value chain, fostering greater collaboration and elevating operational efficiencies for the fund distribution industry.”
Ms Chan added: “This offering underscores our commitment to further advance the development of Hong Kong's fund distribution ecosystem and to enhance its position as a leading hub for wealth and asset management in the region.”
Alongside the new service launch, the IFP also welcomes an initial cohort of 33 distributors, transfer agents and fund houses to join the platform. For the full list of such industry participants, please visit the HKEX Website.
The next phase of development for the IFP includes the provision of nominee services, as well as the facilitation of payments and settlement, subject to regulatory approval. HKEX will continue to collaborate with regulators and industry stakeholders to enhance market efficiency and promote broader industry participation. Further details on the platform's progress will be shared in due course.
