HKEX(HK:00388) Zhi Tong Cai Jing·2025-11-12 00:21Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) has announced an agreement to acquire a 20% stake in the holding company of Clearstream, reinforcing their strategic partnership to promote the long-term development of Hong Kong's fixed income and currency (FIC) market ecosystem [1] Group 1: Investment Details - HKEX will invest up to HKD 455 million to subscribe for newly issued shares of Clearstream Holdings [1] - After the transaction, HKEX and the Hong Kong Monetary Authority (HKMA) will hold 20% and 80% stakes in Clearstream Holdings, respectively [1] - This strategic investment is based on a memorandum of cooperation signed in March 2025, highlighting HKEX's commitment to strengthening Hong Kong as a leading center for fixed income and currency [1] Group 2: Strategic Goals - The collaboration aims 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] - Specific measures will include promoting the commercialization of the Central Moneymarkets Unit (CMU) and expanding investor CSD services, custodial asset categories, and collateral management services [2] - The investment is intended to support the future development and market expansion of Clearstream, particularly in areas like offshore bond repurchase and OTC settlement [2] Group 3: Market Positioning - CMU, as Hong Kong's fixed income CSD, had a total custodial asset amount of approximately HKD 5 trillion as of September 30, 2025, playing a key role in bond trading settlement [3] - The collaboration between HKEX and HKMA aims to enhance Hong Kong's position as a global hub for bond financing, risk management, and offshore RMB business [2] - The strategic partnership is seen as a significant milestone in the development of Hong Kong's financial infrastructure, facilitating efficient two-way investment flows between mainland China, Hong Kong, and international markets [2]