What’s new: Hong Kong Exchanges and Clearing Ltd. (HKEX) is planning to establish a digital-asset trading platform, a pilot version of which is set to be launched this year, the bourse announced Tuesday.
The platform, called Diamond, will be a one-stop shop for data trading and custody with instant settlements, said Glenda So, co-head of markets at HKEX. The cloud-based system will use smart contract and blockchain technology, So said in a speech during HKEX’s Corporate Day event.
So highlighted a number of ESG (environmental, social, and corporate governance) products, including carbon-related futures and exchange-traded funds (ETFs), that will be traded on the platform. Cryptocurrency won’t be included in the initial stage, she said.
The background: The digital-asset platform is part of HKEX’s plan to explore the “megatrends” including digital assets, ESG, data and alternative assets. The annual trading volume of digital assets could reach $60 trillion to $100 trillion by 2030 globally, So estimated.
Contact reporter Zhang Yukun (yukunzhang@caixin.com) and editor Lin Jinbing (jinbinglin@caixin.com)
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