Core Viewpoint - Hong Kong Stock Exchange (HKEX) has launched an order transmission service on the Integrated Fund Platform (IFP) to enhance the efficiency of the fund distribution ecosystem in Hong Kong [2][4]. Group 1: Service Launch and Objectives - The order transmission service aims to improve interaction between fund distributors and registered agents, thereby enhancing operational efficiency within the fund distribution industry [4][6]. - The IFP will operate on a business-to-business basis and is being rolled out in phases, with a fund database already recognized for its functionality [5][6]. Group 2: Initial Participation and Future Developments - The first batch of 33 companies, including various fund distributors and asset management firms, has joined the platform [6][8]. - Future phases of the IFP will include the introduction of agent services and enhancements to payment and settlement functions, pending regulatory approval [9]. Group 3: Regulatory Support and Market Impact - The Hong Kong Securities and Futures Commission (SFC) has welcomed the launch of the order transmission service, viewing it as a significant milestone for the IFP and the retail fund industry [9]. - The SFC emphasized that the service will facilitate communication among market participants and enhance collaboration within the fund distribution network, contributing to the digitalization of Hong Kong's capital market infrastructure [9]. Group 4: Collaboration with Shenzhen Stock Exchange - The order transmission service's communication network is supported by the Financial Data Exchange Platform (FDEP) operated by Shenzhen Stock Exchange, which provides secure and efficient data exchange solutions for over 200 financial institutions [10]. - There are plans to explore interoperability between the IFP and the FDEP ecosystem to foster innovation in cross-border wealth management services [10].

Core Viewpoint - Hong Kong Stock Exchange (HKEX) has launched an order transmission service on the Integrated Fund Platform (IFP) to enhance the efficiency of the fund distribution ecosystem in Hong Kong [2][4]. Group 1: Service Launch and Features - The order transmission service aims to improve interaction between fund distributors and registered agents, thereby enhancing operational efficiency within the fund distribution industry [4][6]. - The IFP will operate on a business-to-business basis and is being rolled out in phases, with the first 33 companies already joining the platform [5][6]. - The service integrates subscription and redemption order processing, making operations smoother and improving communication between fund distributors and registered agents [6]. Group 2: Regulatory Support and Market Impact - The Hong Kong Securities and Futures Commission (SFC) welcomed the launch of the order transmission service, viewing it as a significant milestone for the IFP's development [8]. - The SFC emphasized that the service will facilitate communication among market participants in the retail fund industry and enhance collaboration within the fund distribution network [8]. - The SFC highlighted that the digitalization of market infrastructure is crucial for the operation and development of modern capital markets, with the average daily turnover of the Hong Kong stock market expected to reach HKD 240 billion by mid-2025, a 118% year-on-year increase [8]. Group 3: Collaboration with Other Exchanges - The Shenzhen Stock Exchange (SZSE) expressed its commitment to strengthening cooperation with HKEX and exploring data platform connectivity [9][11]. - The financial data exchange platform operated by SZSE supports over 200 financial institutions with secure and efficient data exchange solutions [10][11]. - SZSE aims to support the promotion of the IFP and explore cross-border wealth management innovations, such as ETF and fund mutual recognition [11].