Calastone has strengthened its position in the China-Hong Kong market by enabling direct connectivity with Shenzhen Securities Communications Company (SSCC).
The new link provides direct SSCC connectivity to financial institutions in Hong Kong participating in the China-Hong Kong Mutual Recognition of Funds (MRF) programme, such as fund managers, distributors, custodians and fund administrators.
Sebastien Chaker, head of Asia for Calastone, said: “The new, direct connectivity means that financial institutions in Hong Kong participating in the MRF programme now have a wider set of order processing channel options, with the potential to lower costs.”
“Clients will be able to use their existing network connection to Calastone to submit and receive fund orders to and from China under the MRF programme.”
YuanQun, CEO for the SSCC, added: “As interest in international fund investment continues to increase, we see the availability of electronic trade channel options will only help to support the rise of trade volume between China and Hong Kong.”
