๐ Hong Kong Stock Exchange's Stock Connect system gets a blockchain upgrade! Introducing Synapse, a smart contract-based platform designed to streamline post-trade workflows and reduce settlement risk. Key features include:
- Simultaneous creation of settlement instructions for all parties
- Facilitating concurrent processing
- Near-instantaneous status updates for all parties involved in the trade
This comes as the average daily turnover of Stock Connect reached $15.302 billion in H1 2023, up 5% YoY and a 50% increase from 2020 levels. Synapse is set to launch on October 9. ๐
What do you think about this blockchain integration? Share your thoughts in the comments! ๐
- Simultaneous creation of settlement instructions for all parties
- Facilitating concurrent processing
- Near-instantaneous status updates for all parties involved in the trade
This comes as the average daily turnover of Stock Connect reached $15.302 billion in H1 2023, up 5% YoY and a 50% increase from 2020 levels. Synapse is set to launch on October 9. ๐
What do you think about this blockchain integration? Share your thoughts in the comments! ๐