Hong Kong Brokers Sign Up With SunGard For China Connect
In preparation for the launch of Shanghai-Hong Kong Stock Connect (also called “China Connect”) shares in October, five brokerages have turned to SunGard to access the China Connect program via the Hong Kong Exchange’s China Connect Open Gateway (CC OG). SunGard’s solutions propel a number of financial services operations across the globe, helping customers connect to international markets and capture new trading opportunities.
The forthcoming launch of the new China Connect shares will provide increased investment opportunities between Hong Kong and Shanghai markets, with international investors to trade Shanghai ‘A’ shares via the
Hong Kong Stock Exchange (northbound trading), and allow mainland investors to trade Hong Kong ‘H’ shares via the Shanghai Stock Exchange (southbound trading), subject to quotas both ways.
The combination of SunGard’s Valdi Trader and SunGard’s recently launched co-location services at the Hong Kong Exchange is helping customers to take advantage of these new investment opportunities.
“SunGard is excited to be working with our customers to help them take advantage of the new investment and trading available through the China Connect program. SunGard is investing and ready with technological innovations to support the ever-changing market opportunities, such as China Connect.” – Nasser Khodri, managing director, Asia-Pacific, SunGard’s capital markets business.
SunGard’s Valdi Trader is available as either an enterprise license solution, (onsite at the customer’s premises), or as a managed service via SunGard’s co-location service at the Hong Kong Stock Exchange. SunGard provides access to the Hong Kong Stock Exchange’s CC OG via Valdi Trader, providing familiar and proven systems to access the China Connect shares, which helps drive cost reduction by reducing support complexity and training requirements.
Shanghai-Hong Kong Stock Connect is a mutual market access program, through which investors in Hong Kong and mainland China can trade and settle shares listed on other markets via the exchange and clearing house in their local market.