Core Points - The Hong Kong Monetary Authority (HKMA) has introduced the Hong Kong Stock Exchange (HKEX) as a strategic shareholder in its subsidiary, Clearstream Settlement Holdings Limited [1][3] - The agreement involves the HKMA retaining 80% ownership through the Exchange Fund and HKEX acquiring a 20% stake via new share subscriptions [1][3] Group 1 - The partnership aims to transform the Central Moneymarkets Unit (CMU) into a diversified asset settlement platform, enhancing commercial development and integrating bond and stock custody management systems [3] - This collaboration is expected to improve investment efficiency and flexibility, enhance liquidity, promote product innovation, and strengthen Hong Kong's role as a risk management center [3] - The initiative supports the internationalization of the Renminbi and aims to elevate Hong Kong's status as an international financial center, which is significant for the financial development of Hong Kong [3] Group 2 - The HKMA's president emphasized that this strategic cooperation lays the foundation for the CMU to evolve into a multi-asset platform, allowing investors to manage stocks and bonds in a one-stop manner [3] - The HKEX's CEO highlighted that developing fixed income and currency business is a key strategic focus, and this investment reflects their commitment to building a diverse and vibrant multi-asset ecosystem [3]

Group 1 - Hong Kong Stock Exchange (HKEX) has reached an agreement to invest up to HKD 455 million in the newly issued shares of Clearstream, resulting in HKEX and the Hong Kong Monetary Authority (HKMA) holding 20% and 80% of Clearstream's equity, respectively [1] - The strategic collaboration aims to enhance investment efficiency and flexibility, release liquidity, promote product innovation, and support the internationalization of the Renminbi [1][2] - The partnership will facilitate the interconnectivity of collateral management for bonds and assets, improving efficiency and enabling better integration between the stock market and fixed income and currency markets [1][2] Group 2 - Clearstream is set to evolve from focusing solely on bond-related services to becoming a diversified asset settlement platform, breaking traditional barriers between bonds and stocks [2] - HKEX's CEO emphasized that developing fixed income and currency business is a key strategic focus, aiming to establish a multi-asset ecosystem that supports future growth areas such as offshore bond repurchase and OTC settlement [2] - As of September 30, 2025, Clearstream's total custodial assets reached approximately HKD 5 trillion, playing a crucial role in bond trading settlement and delivery [3]

Core Viewpoint - The Hong Kong Monetary Authority (HKMA) has announced a strategic partnership with the Hong Kong Stock Exchange (HKEX) to enhance the financial infrastructure of Hong Kong's capital markets and support the long-term development of the fixed income and currency market ecosystem [1] Group 1: Strategic Partnership - HKEX will acquire a 20% stake in the newly established Clearstream Holdings Limited through a subscription of new shares [1] - After the transaction, the HKMA-managed Exchange Fund will hold 80% and HKEX will hold 20% of Clearstream Holdings [1] - The establishment of Clearstream Holdings aims to fully own the Central Moneymarkets Unit (CMU), which operates the debt instruments central clearing system [1] Group 2: Development Goals - The strategic collaboration between HKMA, Clearstream, and HKEX is seen as a significant milestone in the development of Hong Kong's financial infrastructure [1] - This partnership aims to transform the CMU into a multi-asset platform, allowing investors to manage both stocks and bonds in a one-stop manner [1] - The initiative is expected to facilitate efficient two-way investment flows between mainland China, Hong Kong, and international markets [1] Group 3: Market Positioning - HKEX's CEO emphasized the growing interest of global investors in Asian opportunities and the need for close collaboration with regulators and market participants [1] - The partnership aims to further enhance Hong Kong's position as a global hub for bond financing, risk management, and offshore RMB business [1] - The goal is to leverage Hong Kong's potential as a global center for fixed income and currency markets [1]

Core Insights - The Hong Kong Monetary Authority (HKMA) has announced that its subsidiary, Xunqing Clearing Holdings, will introduce the Hong Kong Stock Exchange (HKEX) as a strategic shareholder, acquiring a 20% stake through a new share subscription for up to HKD 455 million [1] - This investment aligns with HKEX's strategic goals in the fixed income and currency (FIC) market, aiming to enhance Hong Kong's status as an international financial center [1][2] - The collaboration is expected to advance Hong Kong's post-trade securities infrastructure, establishing it as a major Central Securities Depository (CSD) in the region [2] Group 1 - The partnership will leverage resources, technology, talent, and expertise from both HKMA and HKEX to enhance the Central Moneymarkets Unit (CMU) and expand investor services [2] - The CMU aims to facilitate one-stop management of stocks and bonds for investors, promoting efficient cross-border investment flows between mainland China, Hong Kong, and international markets [2] - The strategic cooperation is seen as a significant milestone in the development of Hong Kong's financial infrastructure [2] Group 2 - HKEX's CEO expressed enthusiasm for the collaboration, emphasizing the importance of developing the fixed income and currency ecosystem as a key business strategy [3] - The investment reflects Hong Kong's commitment to building a diverse and vibrant multi-asset ecosystem, contributing to the long-term stability of the market [3] - As global investors increasingly focus on opportunities in Asia, HKEX aims to strengthen its position as a hub for bond financing, risk management, and offshore RMB business [3]

他还表示，此次合作将助力人民币国际化，进一步提升香港国际金融中心地位。离岸人民币市场持续发 展，人民币国际化正稳慎推进，市场对离岸人民币资金管理及投资产品的需求持续提升。高效、综合的 平台有助降低国际投资者持有和交易人民币资产的门槛与成本，鼓励国际资本更多配置中国资产，为人 民币国际化的稳慎推进贡献力量。 另外，陈茂波呼吁各界于12月7日香港立法会选举中投票。 11月12日，香港金管局、港交所(00388)及迅清结算控股就深化策略伙伴合作举行签约仪式。香港财政 司司长陈茂波致辞时指，此次策略性合作是加速推动金融基建高效联通关键一步，更加是香港金融市场 跨越式发展。他称，此次合作在香港的金融发展蓝图中有着重大意义。该交易突显香港力求杠杆更大的 市场力量，加速推动金融基建的高效联通与创新发展。香港金管局和港交所强强联手，为香港国际金融 市场提速和深化发展创造有利条件。 陈茂波指出，这次双方的合作，有三大战略意义。此次合作提升投资效率和灵活度，相信未来将有更多 国际投资者配置包括中国国债的内地资产。香港作为全球最大离岸人民币中心，以及点心债主要交易市 场，流入香港的资金量及香港托管的资产总值将持续增加。对于投资者而 ...

他续指，此次合作将释放流动性、促进产品创新，提升香港风险管理中心的功能。此次合作亦将促进探 索双方托管的债券及资产作为抵押品的互通性，提升抵押品管理效率、有效释放潜在流动性，并促进股 票市场和固定收益及货币市场更好联动发展。通过建立综合的抵押品平台，有助市场参与者更好地进行 对冲和风险管理，提升香港风险管理中心的功能，有关基建亦会引入数字资产，例如代币化债券和股 票。 另外，陈茂波呼吁各界于12月7日香港立法会选举中投票。 智通财经APP获悉，11月12日，香港金管局、港交所(00388)及迅清结算控股就深化策略伙伴合作举行签 约仪式。香港财政司司长陈茂波致辞时指，此次策略性合作是加速推动金融基建高效联通关键一步，更 加是香港金融市场跨越式发展。他称，此次合作在香港的金融发展蓝图中有着重大意义。该交易突显香 港力求杠杆更大的市场力量，加速推动金融基建的高效联通与创新发展。香港金管局和港交所强强联 手，为香港国际金融市场提速和深化发展创造有利条件。 他还表示，此次合作将助力人民币国际化，进一步提升香港国际金融中心地位。离岸人民币市场持续发 展，人民币国际化正稳慎推进，市场对离岸人民币资金管理及投资产品的需求持续 ...

Group 1 - Hong Kong Stock Exchange (HKEX) announced a strategic investment to acquire a 20% stake in Xunqing Clearing Holdings [1] - The transaction agreement was signed during a ceremony attended by the Exchange Fund, HKEX, and Xunqing Clearing Holdings [1]

Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) announced a strategic investment to acquire a 20% stake in Xunqing Clearing Holdings, formalized through a transaction agreement signed during a recent ceremony involving the Exchange Fund, HKEX, and Xunqing Clearing Holdings [1] Group 1 - HKEX is pursuing a strategic investment to enhance its market position and expand its service offerings [1] - The acquisition of a 20% stake in Xunqing Clearing Holdings signifies HKEX's commitment to strengthening its clearing and settlement capabilities [1] - The transaction agreement was signed in the presence of key stakeholders, indicating a collaborative approach to the investment [1]

根據《香港聯合交易所有限公司證券上市規則》第三十八章，證券及期貨事務監察委員會監管 香港交易及結算所有限公司有關其股份在香港聯合交易所有限公司上市的事宜。證券及期貨事務 監察委員會對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 對迅清結算控股有限公司進行戰略投資 茲提述香港交易及結算所有限公司（「香港交易所」）於今日較早前刊發的公告 （「公告」），有關根據戰略投資，香港交易所擬購入迅清結算控股 20%股權。除另有 界定者外，本公告內所用詞彙與公告內所界定者具相同涵義。 香港交易所公布，於今日較早前舉行的簽約儀式期間，外匯基金、香港交易所及迅清結算 控股已簽訂交易協議以落實戰略投資。 承董事會命 香港交易及結算所有限公司 集團公司秘書 曾志燿 香港，2025 年 11 月 12 日 於本公告日期，香港交易所董事會包括 12 名獨立非執行董事，分別是唐家成先生（主席）、 聶雅倫先生、白禮仁先生、陳健波先生、謝清海先生、張明明女士、車品覺先生、周胡慕芳女士、 丁晨女士、梁柏瀚先生、任志剛先生及張懿宸先生， ...

Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) has announced a strategic investment to acquire a 20% stake in the holding company of the Central Moneymarkets Unit (CMU) from the Hong Kong Monetary Authority (HKMA), aiming to strengthen the development of Hong Kong's fixed income and currency market ecosystem [1][2]. Group 1 - HKEX will invest up to HKD 455 million to subscribe for newly issued shares of the CMU holding company, resulting in HKEX and HKMA holding 20% and 80% stakes, respectively [1]. - This investment is part of a strategic partnership established in a memorandum of understanding signed in March 2025, emphasizing HKEX's commitment to enhancing Hong Kong's position as a leading center for fixed income and offshore RMB business [1][2]. - The collaboration aims to leverage resources, technology, talent, and market expertise to accelerate the development of post-trade securities infrastructure in Hong Kong, positioning it as a major Central Securities Depository (CSD) in the region [1][2]. Group 2 - Specific measures will include promoting the commercial development of CMU and expanding services in new asset classes and collateral management to enhance market competitiveness and operational efficiency across asset classes [2]. - The CEO of HKEX highlighted that the investment reflects the commitment to building a diverse and vibrant ecosystem of multi-asset classes, which is crucial for the long-term stability of the market [2]. - The strategic cooperation is seen as a significant milestone in the development of Hong Kong's financial infrastructure, facilitating one-stop management of stocks and bonds for investors and promoting efficient cross-border investment flows [2][3]. Group 3 - The investment will be funded by HKEX's existing corporate resources, aimed at driving future growth and market expansion for CMU [3]. - As of September 30, 2025, CMU's total assets under custody reached approximately HKD 5 trillion, playing a key role in bond trading settlement and optimizing collateral usage to promote swap connectivity [3]. - The mechanisms for "mutual connectivity" have been jointly developed by HKEX and HKMA, with both parties actively working to optimize these mechanisms, leading to record transaction volumes this year [3].