The Hong Kong Stock Exchange is upgrading its Stock Connect system using blockchain technology. The updated system, called Synapse, will use smart contracts to perform post-trade operations and reduce settlement risk. Synapse enables simultaneous generation of calculation instructions for all participants, facilitating parallel processing and providing instant status updates. Stock Connect's average daily turnover in the first half of 2023 was $15.302 billion (RMB 109.3 billion), an increase of 5% year-on-year and 50% year-on-year. Synapse is scheduled to launch in Hong Kong on October 9.