Security Alert
Amid the rising concern over fraud attempts through impersonation of reputable institutions, Hong Kong Interbank Clearing Limited (HKICL) and HKICL Services Limited (HSL) would like to remind you to stay alert of any suspicious correspondence appears to be issued by HKICL and/or HSL. In principle, HKICL and/or HSL will only request payments from business partners to whom it has business relationship. HKICL and/or HSL will NOT claim to have statutory/regulatory power to request payments from others. You are advised to contact HKICL and/or HSL upon notice of any suspicious communication.
News in 2021
Delivery versus Payment (DvP) Linkage with Bank of Japan
A new DvP link initiated by the HKMA and Bank of Japan for cross-currency securities transactions between the HKD payment system (CHATS) and the Bank of Japan Financial Network System for Japanese Government Bond (BOJ-NET JGB) Services was launched on 1 April 2021. This new link facilitates DvP settlement of the HKD sale and repurchase (repo) transactions using Japanese Government Bonds (JGB) as collateral and helps eliminate settlement risk by ensuring simultaneous delivery of HK dollars in Hong Kong and JGBs in Japan.
News in 2020
贸易金融区块链平台和香港贸易联动平台跨境合作第一期项目开启试运行新闻稿
11月3日，中国人民银行数字货币研究所下属机构深圳金融科技研究院与香港银行同业结算有限公司旗下香港贸易融资平台有限公司联合宣布，贸易金融区块链平台（以下简称贸金平台）和香港贸易联动平台（eTradeConnect）已完成第一期对接项目，正式进入试运行阶段。
2019年，深圳金融科技研究院与香港贸易融资平台有限公司签署了合作备忘录。经过双方共同努力，现已完成平台一期对接项目。项目围绕两地企业及金融机构贸易融资业务需求，集中各自优势资源，持续深挖贸易金融业务场景和金融科技的结合点，有利于提高跨境贸易融资互信与便利化水平，降低中小企业对外贸易融资成本，助力企业“走出去”。同时，项目将切实解决贸易金融现有操作流程中的痛点、难点，促进两地银行拓展贸易融资业务，并进一步推动两地金融科技合作的持续发展，打造开放、包容、共建的金融生态。
此次试运行项目由内地中国工商银行、中国银行、交通银行和香港中国银行（香港）有限公司、中国工商银行（亚洲）有限公司、交通银行（香港）有限公司 、渣打银行（香港）有限公司共同参与。
双方表示，将继续紧密合作，探讨双方平台对接的进一步发展，以推动跨境贸易和相关贸易融资创新，助力粤港澳大湾区合作共赢发展。
关于贸易金融区块链平台
为贯彻落实习近平总书记“深化金融改革开放，增强金融服务实体经济能力，推动我国金融业健康发展”的要求，服务中小企业，中国人民银行数字货币研究所于2018年9月推出贸易金融区块链平台。该平台是从金融、税务、监管等多维度服务中小微企业，以共建、共有、共享模式打造的集开放贸易金融生态、可穿透式监管、公信力于一体的金融基础设施。贸易金融区块链平台正在加快生态建设和全球合作，除了与香港贸易联动平台的对接，未来还将与其他境外同类平台洽谈合作事宜。
关于贸易联动平台
贸易联动于2018年9月正式启用，是香港首个大型的跨银行区块链项目。此贸易融资平台最初由七家银行发起建设，包括澳新银行集团有限公司、中国银行（香港）有限公司、东亚银行有限公司、星展银行（香港）有限公司、恒生银行有限公司、香港上海汇丰银行有限公司和渣打银行（香港）有限公司；其后另有五家银行加入，使贸易联动现有十二间参与银行。贸易联动由香港贸易融资平台有限公司管理，其为香港银行同业结算有限公司的附属公司。
借助区块链技术的独特功能，贸易联动旨在通过贸易文件的数码化和贸易流程的自动化来增进贸易参与者之间的信任，以提高效率、降低风险并促进贸易融资。有关贸易联动的更多资讯，请参阅： https://www.etradeconnect.net
News in 2019
积金局与香港银行同业结算有限公司合作研究积金易平台电子结算和支付系统
积金局与香港银行同业结算有限公司（结算公司）于今天（12月10日）签订合作协议，共同探讨适用于积金易平台的电子结算和支付系统。
在积金局机构事务总监及执行董事郑恩赐先生、积金局营运总监及执行董事朱擎知先生、香港金融管理局（金管局）高级助理总裁刘应彬先生及金管局助理总裁（金融基建）鲍克运先生的见证下，积金局执行董事（成员）许慧仪女士和结算公司行政总裁邓月容女士代表双方签署了谅解备忘录。
朱擎知先生表示：「构建积金易平台的其中一个目的，是提高雇主和计划成员管理强积金的效率及用家经验，而无缝、安全可靠的电子支付系统，将会是积金易平台不可缺少的部份。」
许慧仪女士表示：「结算公司成功开发转数快、电子支票、强积金转移电子化支付等电子支付系统。凭借结算公司丰富经验和知识，将有助我们为积金易平台开发适合而高效的电子结算和支付系统，以处理将来积金易平台庞大的强积金供款和交易。」
刘应彬先生表示：「是次签订合作协议，标志着双方同意共同推动香港金融基建的发展，以进一步提升处理支付交易的效能。我很高兴转数快在推出短短一年时间已经被广泛使用，并由个人对个人支付逐步发展至企业支付。凭借我们开发这个高效且稳健的电子支付平台的经验，我相信这将有助于推动积金易平台的发展，并为有关平台提供多元化及创新的支付方案。金管局会继续致力探讨更多转数快的应用场景，进一步促进香港电子支付生态的发展。」
邓月容女士表示：「转数快与积金易平台皆致力为市民大众提供高效及可靠的24x7电子服务。凭借开发转数快及其他电子系统的成功经验，结算公司有信心其安全可靠的支付技术有助积金局发展一个不单以用家为本、更可为香港金融基建发展作出供献的积金易平台。」
在积金局机构事务总监及执行董事郑恩赐（左二）、积金局营运总监及执行董事朱擎知（左一）、金管局高级助理总裁刘应彬（右二）及金管局助理总裁（金融基建）鲍克运（右一）的见证下，积金局执行董事（成员）许慧仪（左三）和结算公司行政总裁邓月容（右三）代表双方签署了谅解备忘录，共同探讨适用于积金易平台的电子结算和支付系统。
与中国人民银行数字货币研究所下属机构展开区块链方面的合作
11月6日，在中国人民银行数字货币研究所所长穆长春和香港金融管理局助理总裁鲍克运的见证下，中国人民银行数字货币研究所副所长兼深圳金融科技研究院院长狄刚与香港贸易融资平台有限公司总裁邓月容代表双方在香港签署《关于两地贸易金融平台合作备忘录》。
双方这次签订合作备忘录，启动中国人民银行贸易金融平台（PBCTFP）和香港贸易联动平台（eTradeConnect）的互联互通工作，为不同经济体的贸易主体架设数字化贸易融资桥梁，助推“一带一路”经贸往来，有利于提高跨境贸易融资互信与便利化水平，扩大我国际经贸朋友圈，助力企业“走出去”，服务实体经济，降低中小企业对外贸易融资成本。
照片说明：签订备忘录现场图片
深圳金融科技研究院是中国人民银行数字货币研究所、深圳市人民政府金融发展服务办公室、福田区人民政府共同举办的事业单位，主要从事金融科技的研究开发、标准制定、认证检测等工作，开展金融科技相关交流合作，建设国际一流的金融科技与数字货币高端科技研发中心、科技成果孵化中心、科技交流合作中心、金融科技人才培养中心。
香港贸易融资平台有限公司成立于2018年2月，是香港银行同业结算有限公司的附属公司，致力以区块链技术为本地及海外参与者提供数字化的贸易或贸易融资平台。
中国人民银行贸易金融平台于2018年9月4日在深圳成功试点上线。该平台基于中国人民银行数字货币研究所自主研发的区块链底层技术，实现跨境贸易主体之间的信息可穿透、信任可传递和信用可共享，培育包容性对接、对等性互联、可控性共享的应用生态，为进出口企业和金融机构营造互信、便利的国际贸易融资环境。截至2019年10月末，参与推广应用的银行达29家、网点485家，发生业务的企业1898家，实现业务上链3万余笔，业务发生笔数5千余笔，业务量约合750亿元。
香港贸易联动平台于2018年9月正式启用，是香港首个大型的跨银行区块链项目，最初由七家香港银行发起建设，目前有十二家银行参与共建。香港贸易联动平台借助区块链技术的独特功能，通过贸易文件的数字化和贸易流程的自动化来增进贸易参与者之间的信任，以提高效率、降低风险并促进贸易融资。
贸易联动与货讯通及罗兵咸永道合作，促进全球贸易和贸易融资
香港 - 2019年11月5日 - 贸易联动 (eTradeConnect) 今天宣布了两项概念验证，以强化该平台的连接能力。该两项概念验证的目的是把传统的繁重工序及以纸张为主的贸易融资流程数字化，让企业客户能通过安全、高效率及数字化的贸易融资流程简便地交换他们的贸易、融资申请和货运信息。
银行与全球运输网络的连系
贸易联动已与货讯通及由航运业参与者建议筹组的全球运输业务网络(GSBN)展开讨论，探讨银行及航运业如何携手合作为其共同客户创造价值。
概念验证的目的是验证海运承运商和码头营运商的实时货运数据（如提单）对银行及其贸易融资客户在信息透明度、可追溯性和效率所带来的益处。此外，此项概念验证亦评估无纸化的贸易融资流程对降低融资风险、促进产品创新和提升效率所带来的帮助。
贸易联动和货讯通在项目经理罗兵咸永道的推动下与各银行，包括中国银行（香港）有限公司、东亚银行有限公司、香港上海汇丰银行有限公司和渣打银行（香港）有限公司，及包括中远航运及东方海外的海运承运商完成该项概念验证。各方在“按需知密”的原则下，交换在融资和付运过程中的数据，并以客户体验、营运和技术层面探讨其潜在影响。
通过ERP.Connect整合客户采购系统
贸易联动也完成另一个通过ERP.Connect整合企业客户采购系统的概念验证。 ＂ERP.Connect＂是由罗兵咸永道根据概念验证而设计的系统，该系统可以通过以无缝连接方式让企业客户提交如企业采购，订单管理和财务管理等与贸易融资相关的数字化信息和文件。
在过去的数个月，贸易联动和罗兵咸永道一直紧密合作，探讨和验证贸易联动平台与＂ERP.Connect＂的整合方案。
此外，在如何通过优化客户体验，达致＂端到端数字化＂的愿景方面，贸易联动的参与银行，包括星展银行（香港）有限公司、香港上海汇丰银行有限公司和渣打银行（香港）有限公司也分享了他们理念。
ERP.Connect让企业的财务管理人员可以通过现有的ERP系统获得即时的融资产品选项，因而能更具体地了解其企业的财务状况，并提升营运资金的管理能力。
中国银行（香港）交易银行部总经理滕琳惠女士表示：「中银香港一直积极探索运用创新科技，提升金融服务能力，今年率先完成应用程式介面（API）开发，成为首家以系统直联『贸易联动』的银行。今次『贸易联动』平台以概念验证引入航运行业的参与及接入企业采购系统，实现多方资讯共用，提升运营效率及透明度，让客户有更佳的服务体验。我们将继续积极于相关领域投入资源，推动数字化贸易生态圈发展，并与各方合作伙伴携手推动『贸易联动』平台的发展。」
东亚银行联席行政总裁李民桥先生表示：「区块链技术令银行可以实时与物流服务供应商交换资讯。区块链发展将有助简化贸易融资流程, 降低风险, 便利中小企业获取贸易融资服务。」
星展银行(香港)环球金融交易服务总监潘利明（Nimish Panchmatia）先生表示：「贸易联动的ERP连接器所独特之处,在于无缝连接起企业ERP系统与参与银行，提供一站式的贸易执行平台。我们的客户能够利用资源整合和系统连接的优势，显著提高营运效益。」
潘利明先生又认为：「数字化可为企业营造独特优势，透过这种轻松无碍的融资体验，客户可以实时监察其贷款申请，从而提高服务的透明度，并降低企业的管理成本。eTradeConnect的目标是通过此合作以建立一个数字化的生态系统，加强环球贸易系统中各持份者之间的联系，促进经济合作，并推广香港为主要的区域贸易中心。」
汇丰环球贸易及融资业务部港澳地区主管叶凤珍女士表示：「汇丰致力支持贸易转型及数字化，令贸易过程变得更快捷、安全及有效率。作为『贸易联动』的出资创办银行之一，我们很高兴有份参与该两项概念验证，帮助建立环球贸易生态系统，进一步简化客户交易流程。根据我们处理于『贸易联动』平台所进行的交易经验，客户需要一个可以促进跨境贸易的单一服务平台，以减省重复的步骤，令整体交易体验更流畅。『贸易联动』可为所有国际贸易的参与者带来更大的便利。」
渣打香港交易银行部主管安必杰（Biswajyoti Upadhyay）先生表示：「在现今复杂的贸易环境中，客户需要更高效及可靠的贸易流程和信息流。通过贸易联动与建议筹组的GSBN和客户ERP系统的连接，数字贸易和货运信息能实时交换，进一步实现无纸贸易，更重要的是让客户与贸易生态内的各个交易对手连接起来，令整个流程更具透明度，同时提高供应链效率。数字化为渣打银行的核心目标。作为贸易联动的创始银行，我们很高兴参与了两个概念验证项目，旨在共同改善贸易环境并协助客户在瞬息万变的市场中竞争。」
罗兵咸永道全球咨询主管穆罕默德·坎德（Mohamed Kande）先生表示：「我们很高兴能促进银行业与航运行业/物流业的合作及国际贸易的数字化，并建立一个一体化的贸易生态系统。这与罗兵咸永道建立社会信任的核心宗旨相符合，展示了我们对亚洲市场及新兴技术的致力投入；通过创新和技术的使用，ERP.Connect的概念验证体现了我们共同创造价值的数字战略。我们为能参与这一数字化转型之旅感到荣幸。」
通过这两个合作，eTradeConnect的目标是建立一个数字生态系统，加强全球贸易系统中各持份者之间的联系，加强经济合作并促进香港成为主要的区域贸易枢纽。
关于贸易联动
贸易联动于2018年9月正式启用，是香港首个大型的跨银行区块链项目。此贸易融资平台最初由七家银行发起建设，包括澳新银行集团有限公司、中国银行（香港）有限公司、东亚银行有限公司、星展银行（香港）有限公司、恒生银行有限公司、香港上海汇丰银行有限公司和渣打银行（香港）有限公司；其后另有五家银行加入，使贸易联动现有十二间参与银行。贸易联动由香港贸易融资平台有限公司管理，其为香港银行同业结算有限公司的附属公司。
借助区块链技术的独特功能，贸易联动旨在通过贸易文件的数字化和贸易流程的自动化来增进贸易参与者之间的信任，以提高效率、降低风险并促进贸易融资。
有关贸易联动的更多资讯，请参阅：https://www.etradeconnect.net
关于货讯通
货讯通致力于协助企业发展全球供应链的数字化变革，掌控人工智能、物联网、区块链以及现今海运行业的分析，为物流和运输团队提供创新的解决方案。货讯通旨在构建整体视野，从而促进协同合作、提升可视性，并且优化供应链规划和运营。货讯通自2000年于香港成立以来，成功支持多于160,000 位运输及物流业专业人士提高货运可靠性、降低运输成本及简化运营流程。
建议筹组的全球货运业务网络（GSBN）是由货讯通（CargoSmart）及全球主要海运承运人及码头实施的一项举措，以公开透明、加速航运业的数字化转型方式改变全球供应链。在获取所有监管机构的批准后，GSBN将会以非营利合资企业运营。
欢迎浏览www.cargosmart.ai了解更多。
关于罗兵咸永道
罗兵咸永道的目标是建立社会信任，解决重大问题。各成员机构组成的网络覆盖157个国家，逾276,000名员工致力于在审计、咨询及税务领域提供高质量的服务。如有业务需求或欲知详情，请浏览：www.pwc.com。
罗兵咸永道系指罗兵咸永道网络及/或罗兵咸永道网络中各自独立的法律实体。详情请浏览www.pwc.com/structure。
News in 2018
贸易联动和我们. 贸易宣布合作计划
***两大亚洲及欧洲貿易融资平台計劃實現全球首个跨地区跨区块链连接***
贸易联动和我们. 贸易今天宣布（二零一八年十月三十一日），香港新推出的贸易融資数码化平台──贸易联动，与欧洲领先的贸易融资数码化平台──我们. 贸易签署谅解备忘录（谅解备忘录） 。雙方在過去数星期携手合作，并决定在签署这份谅解备忘录即日起，派出技术人员联合开发連接两个贸易融资平台的技术方案，目的是让贸易联动和我们. 贸易上的企业进行跨平台贸易，并可為相关貿易发票和单据向平台上的银行申请融资。 这次合作計劃標誌着全球首个跨地区跨区块链的连接。
区块鏈网络的互联性是每个网络拓宽用户和服务范围的致胜关键。 通过是次谅解备忘录的签署，我们. 贸易和贸易联动（聯同各自的技术合作伙伴，分别是Ibm和金融壹賬通），在未来數个月会通过概念验证（概念证明）的形式制定能夠实现全球首次两个贸易融资平台的连接。
贸易联动是一个建基于区块链（区块链）的贸易融资平台，由香港12家银行合力开发的首个大型跨银行区块链项目，并于2018年9月成功上线。 贸易联动通过区块链技术打造一个為貿易夥伴加强互信、提升效率、降低风险的贸易融资平台，再加上贸易文件数码化和贸易融资自动化，更可降低企業獲取贸易融资的难度。
同樣，我们. 贸易也是欧洲第一个建基于区块链的贸易融资平台，其使用的是Ibm区块链平台，自2018年6月起已为14家歐洲主要银行提供服务。我们. 贸易的目标是推动无缝、简单及可信的跨境贸易。 自2018年6月推出以来，我们. 贸易已在欧洲的稳步发展，并宣布計劃在2019年扩展至欧洲以外地区。 贸易联动与我们. 贸易间的合作正正打开了亚洲和欧洲两个市场之间的大门。
这两个平台有着共同的愿景：連接全球网络、促进跨境贸易。使用類同的区块链技术和相似的功能，可进一步强化及巩固两个平台的联系和協同作用，为全球网络联网踏出重要一步。同時，双方的合作更为亚欧之间的贸易融资业务開闢了一条新的数码化贸易走廊。
香港贸易融资平台有限公司行政总裁鄧月容表示：「我們十分高兴能与我们. 贸易合作，相信两个平台间的合作將会为贸易融資生態圈的发展带来革命性的改变。此外，貿易联动和我们. 贸易之间的跨区块链连接定必能得到各持分者的支持和肯定。」
我们. 贸易首席营运官罗伯特给马肯對此表示贊同：「我们. 贸易很高兴在金管局的支持下和香港贸易融资平台有限公司合作，这项合作不仅是科技对接，还是平台和用户之间的运营模式、法律框架和管理体系的连接。 鉴于全球数码解决方案的分散性和扩散性，类似的平台之间的合作将会成为必然方向。 我们更兴奋看到我们. 贸易成为这方面的先驱，參與开发第一个跨贸易融资平台的连接。 我们的目标是建立一个可以连接到其他网络的全面解決方案。」
「贸易联动」启动仪式及与欧洲贸易融资平台展开合作
香港金融管理局（金管局）宣布今日（2018年10月31日）「贸易联动」的正式启动。这是一个建基于区块链（Blockchain）、由香港十二间主要银行组成的联盟共同开发的贸易融资平台。「贸易联动」前称为「香港贸易融资平台」。通过数码化贸易文件，自动化贸易融资流程和利用区块链技术的功能，「贸易联动」能提高贸易效率，增加贸易参与者之间的信任，降低贸易风险和促进贸易流程中获得融资的机会。
建立贸易融资系统的项目于2017年10月首次公布，该项目源于金管局推动的贸易融资概念验证（PoC）。由于结果正面，香港七间主要银行1 决定组成一个联盟，把PoC构建成一个商业平台。其后再有五间银行2 加入，总成员增至十二间银行。「贸易联动」是香港首个大型的跨银行区块链项目。
为促进跨境贸易，金管局一直积极寻找机会把「贸易联动」与其他地区的贸易平台联系起来。金管局今日见证了由「贸易联动」与欧洲we.trade3 两个平台的营运商4 签署合作谅解备忘录，以展开一个新的概念验证，把两个平台对接。
金管局副总裁李达志先生表示：「能够见证首个建基于区块链并由香港主要业界构建的贸易融资平台的诞生，是一个值得纪念的时刻。这表明了金融业在智慧银行新纪元中采用新技术的意愿。我们下一个重要的里程碑是将『贸易联动』与其他地区的平台联系起来，以促进跨境贸易融资。『贸易联动』与we.trade的合作为亚洲和欧洲之间的跨境贸易走廊数码化铺路，同时亦为两个大型区块链平台之间的对接建立了规范。」
we.trade营运总监Roberto Mancone对此表示赞同：「we.trade很高兴和金管局促进的『贸易联动』对接。我们的合作确认了共同的路线图，是次合作将会是首次以『网络中的网络』型式把两个区块链的贸易融资平台对接。这项令人兴奋的合作有可能解除欧洲和亚洲之间的贸易融资障碍，并通过协同工作能力，创建一个能结合所有贸易阶段的生态系统。」
香港金融管理局总裁陈德霖先生为「贸易联动」主持启动仪式。
香港金融管理局总裁陈德霖先生与12间银行的高层代表主持「贸易联动」启动仪式。
香港贸易融资平台有限公司行政总裁邓月容女士(左二)与 we.trade营运总监Roberto Mancone先生 (右二) 签署金融合作谅解备忘录。签署仪式由香港金融管理局助理总裁（金融基建）鲍克运先生 (左一)及we.trade董事会成员Thierry Roehm先生(右一)见证。
1.七间主要银行包括中国银行（香港）有限公司，东亚银行有限公司，恒生银行有限公司，星展银行（香港）有限公司，香港上海滙丰银行有限公司，渣打银行（香港）有限公司和澳新银行集团有限公司
2.其后加入的五间银行包括上海商业银行有限公司，中国工商银行（亚洲）有限公司，中国农业银行股份有限公司，交通银行有限公司，法国巴黎银行 香港分行
3.we.trade由九家欧洲银行成立，目标为用户提供一个直接简易的跨境贸易融资平台。到目前为此，we.trade为十四个欧洲国家提供服务
4.「贸易联动」之营运商为香港贸易融资平台有限公司；we.trade之营运商为we.trade Innovation Designated Activity Company
請按此閱讀香港金融管理局的新聞稿。
「转数快」开通仪式
请按此阅读香港金融管理局的新闻稿。
请按此阅读香港政府新闻网的新闻稿。
Faster Payment System (“FPS”)
Faster Payment System (FPS) is launched on 17 September 2018. The FPS is a payment financial infrastructure introduced by the Hong Kong Monetary Authority (HKMA) and operated by Hong Kong Interbank Clearing Limited (HKICL) to enable real-time fund transfer and payment services among banks and payment service providers (including stored value facilities (SVFs) licensed by and retail payment systems (RPS) designated by the HKMA). This real-time payment platform enables instant payments in Hong Kong, providing consumers and merchants a safe, efficient and widely accessible retail payment service on a 7x24 basis.
Please click here to read the press release from the Hong Kong Monetary Authority.
News in 2017
Extension of Central Clearing and Settlement System (CCASS) Real-time Delivery versus Payment (RDvP) Settlement Window
To facilitate the usage of CCASS RDvP service by the China Connect Markets, the Hong Kong Securities Clearing Company Limited (HKSCC) has extended the settlement window for CCASS RDvP Payments with effect from 20 November 2017. The new settlement window operates between 09:15 and 18:00 hours for HKD and USD currencies and between 09:15 and 19:45 hours for RMB currency, excluding Hong Kong general holidays on which CCASS will not be operated. The corresponding schedule for CCASS cutoff events has also been revised in view of this extension, with an additional CCASS interim cut-off at 15:30.
News in 2016
Enhancements for RMB FINInform Payment
As part of the continuous drive to promote efficiency and flexibility, user interface functions are provided for Global Users to enquire their transaction status, account debit limit and reference balance through the new iMBT channel over internet and/or existing eMBT channel via SWIFT network, with effect from 21 November 2016.
Sanction Screening of USD CHATS Payments by HSBC Sanction Screening System (“HSSS”)
USD CHATS has been enhanced to interface with the HSBC Sanction Screening System, replacing the Centralised Payment Filter, with effect from 1 August 2016 to provide corresponding payment sanction screening capabilities
Hong Kong-Guangdong Province (including Shenzhen) One-Way Joint Clearing for HKD, USD and RMB e-Cheque and Hong Kong-Guangdong Province One-Way Joint Clearing for USD Paper Cheque
A new one-way Hong Kong-Guangdong and Hong Kong-Shenzhen cross-border e-Cheque clearing service of HKD, USD and RMB e-Cheques is launched on 20 July 2016. The cross-border e-Cheque links are implemented to facilitate efficient processing of e-Cheque clearing between Guangdong Province (including Shenzhen) and Hong Kong. Through the joint clearing arrangement, payees in Guangdong Province (including Shenzhen) can present e-Cheques drawn on banks in Hong Kong to banks within Guangdong Province (including Shenzhen) for further clearing and settlement in Hong Kong by HKICL.
While the Hong Kong-Shenzhen joint clearing for USD paper cheque was already implemented in 2004, we have taken this opportunity to implement the Hong Kong-Guangdong Province one-way joint clearing for USD paper cheque on the same date (i.e. 20 July 2016).
Same Day CCASS Night Settlement (“SCASSN”)
A new Renminbi same day settlement run in late evening for CCASS items is introduced on 18 April 2016. It serves to mitigate the overnight counterparty risk that may arise between investors and brokers in connection with the settlement instructions relating to securities listed in Mainland China. The Central Clearing and Settlement System generates the relevant items and submits to HKICL by Hong Kong Securities Clearing Company Limited for settlement on the same day.
Interbank Intraday Liquidity Facility
A new Interbank Intraday Liquidity Facility function is introduced in HKD CHATS, USD CHATS, RMB CHATS and Euro CHATS on 18 January 2016. It serves to enhance efficiency of the liquidity provision mechanism between Liquidity Provider(s) and its registered Liquidity Consumer(s) in respective CHATS.
News in 2015
Electronic Cheque (“e-Cheque”) Service
The e-Cheque service, launched on 7 December 2015, is an integrated presentment, clearing and settlement platform to facilitate (i) payee to present e-Cheques (including e-Cashier’s Orders) to its bank through presentment channels such as internet banking system provided by the payee’s bank or the e-Cheque Drop Box Service provided by HKICL; and (ii) clearing and settlement of e-Cheque payments. Under the e-Cheque service, both the payer and payee can execute timely payments enabled by electronic means.
RMB FINInform Payments
A new payment function is introduced in RMB CHATS on 14 September 2015 allowing Direct Participants (DPs) to act as settlement banks for registered indirect users, namely Global Users (GUs), where the GUs can exchange RMB payment messages via SWIFT’s FINInform Y-copy service for the account of their respective DPs, thus enhancing straight-through-processing, efficiency and transparency of RMB RTGS payment processing.
Extension of Renminbi ("RMB") CHATS and Central Moneymarkets Unit Processor (“CMUP”) Operating Window
With further rising demand for RMB clearing service around the world and to further strengthen Hong Kong’s offshore RMB market, the Hong Kong Monetary Authority and RMB Clearing Bank have approved an extension of the RMB CHATS operating hours from the current window between 08:30 hours and 23:30 hours (the bank cut-off time), to between 08:30 hours and 05:00 hours (the bank cut-off time) of the next calendar day on all weekdays except 1 January starting from Monday, 20 July 2015. RMB CHATS will also open between 08:30 hours and 18:30 hours (the bank cut-off time) on special Saturdays and Sundays which are designated as working days in Mainland China. To facilitate RMB clearing members to better manage their RMB liquidity, the daily closing time of CMUP has also been extended from 23:30 hours to 05:00 hours of the next calendar day to align with the operation schedule of RMB CHATS on all weekdays.
News in 2014
Monthly Intraday Liquidity Monitoring Report
To facilitate Member’s management of intraday liquidity, a new Monthly Intraday Liquidity Monitoring Report was introduced to CHATS of all four clearing currencies on 17 November 2014. This new report facilitates Members to monitor their intraday liquidity usage and positions arising from CHATS activities.
Payment-versus-Payment Settlement for US Dollar ("USD") and Thai Baht ("THB")
A new cross-border payment-versus-payment (PvP) link between the USD CHATS and the BAHTNET system (Bank of Thailand’s Thai Baht RTGS system) for settlement of USD/THB foreign exchange transactions was launched on 28 July 2014. This new link facilitates PvP settlement of USD/THB foreign exchange transactions by eliminating settlement risk for the banking institutions in Hong Kong and Thailand.
Mandatory Provident Fund (MPF) Money Settlement Service
To enhance the efficiency of MPF funds settlement among trustees arising from investor portfolio transfers, the HKMA and Mandatory Provident Fund Schemes Authority have jointly introduced money settlement for MPF funds transfer (“MPF Money Settlement Service”) under the Central Moneymarkets Unit (“CMU”) of the HKMA with effect from 19 May 2014.
All MPF trustees in Hong Kong will participate as CMU members and engage settlement banks who are Members of the Clearing House to carry out money settlement on their behalf in the new MPF bulk settlement run in the HKD clearing system.
News in 2013
Electronic Bill Presentment and Payment (EBPP)
EBPP, a platform established by the joint effort of Hong Kong’s banking industry, provides a single consolidated platform that enables the general public to receive and pay bills, or to make donations and receive donation receipts via their internet banking systems. Effective from 18 November 2013, participating banks can exchange merchant, enrolment, bill presentment and donation receipt information through this centralised service. In addition, bill related payments and donations in HKD, USD or RMB can be settled via the corresponding clearing and settlement service.
Delivery versus Payment Link with Euroclear Bank
To facilitate cross-border collateralised lending and borrowing, the delivery versus payment (DvP) facilities of CHATS is extended to securities transactions settled in Euroclear Bank effective 17 June 2013. A linkage between the CHATS of HKICL and global tripartite repo system of Euroclear Bank is established for supporting DvP settlement of the transfer of collateralised securities in Euroclear Bank and the transfer of funds in CHATS simultaneously.
Alphanumeric Clearing Code
Effective 18 March 2013, three-digit alphanumeric clearing codes will be introduced for overseas direct participants (“DPs”) of USD Clearing, Euro Clearing and RMB Clearing, so as to save the usage of the current three-digit numeric clearing codes for local clearing member. Alphanumeric clearing codes will be assigned to overseas DPs that do not participate in bulk clearing and CCASS money settlement services (including paper cheque clearing, CCASS and other electronic clearing service, and/or CCASS real-time DvP service).
HKICL Network (ICLNet)
ICLNet, a secure, open, scalable, and high performance restricted-access private IP-based network for connecting the respective computer systems of the financial institutions and other licensed financial entities in Hong Kong to exchange electronic data efficiently and in a secure manner, commenced operations on 18 March 2013.
News in 2012
Dual Sites Operations
HKICL relocated its production clearing centre, data centre and main office from Hong Kong Island to Kowloon on 17 December 2012. The Hong Kong Island offices were converted into the Company’s backup clearing and data centre at the same time. With a view to providing better clearing service and bringing convenience to Members after HKICL’s relocation, clearing counter services are provided at both Hong Kong Island and Kowloon centres (Dual Sites Operations) to facilitate Members’ outward submission and inward collection of clearing/returned items.
Cross-border Autodebit Service between Guangdong (“GD”) and Hong Kong (“HK”) using China UnionPay HKD/RMB Debit Cards and Direct Debit RMB Account
Following the launch of the cross-border autodebit service between Shenzhen and HK that enables customers in Hong Kong to make autodebit payments to merchants such as utility companies, telephone operators, estate management companies, etc. in Shenzhen, China, this service has been extended to cover Guangdong province starting from 16 July 2012. This service provides greater convenience to customers in Hong Kong, who can make payments by debiting their China UnionPay HKD/RMB debit cards, or RMB bank accounts in Hong Kong to eligible merchants in the Guangdong Province.
Extension of Renminbi ("RMB") CHATS and Central Moneymarkets Unit Processor ("CMUP") Operating Window
To strengthen Hong Kong’s capability in settling overseas RMB payments, the Hong Kong Monetary Authority and RMB Clearing Bank have approved an extension of the RMB CHATS operating hours from the current window between 08:30 hours and 18:30 hours (the bank cut-off time), to between 08:30 hours and 23:30 hours (the bank cut-off time) on all weekdays except 1 January effective Monday, 25 June 2012. To facilitate RMB clearing members to better manage their RMB liquidity, the daily closing time of CMUP has also been extended from 18:30 hours to 23:30 hours to align with the operation schedule of RMB CHATS.
News in 2011
RMB EPS and RMB Same Day Settlement EPS
As a continuous expansion of the RMB business in Hong Kong, we have launched the new RMB EPS and RMB Same Day Settlement services on 21 November 2011. These services facilitate the clearing and settlement of retail payment transactions of the participating merchants of EPSCO in RMB currency.
CCASS T+2 Money Settlement Service ("Service")
The Service was launched on 25 July 2011. Under the new arrangement, the overnight credit risk arising from the settlement gap between stock and money is minimized since the securities trades settled by the Central Clearing and Settlement System operated by Hong Kong Securities Clearing Company Limited and the interbank money settlement for these trades via HKICL would be done on the same day.
Renminbi ("RMB") Autopay and RMB Special CCASS Items
To support the expansion of RMB business in Hong Kong, we have launched a new RMB Autodebit and Autocredit service on 21 March 2011. Furthermore, to facilitate the timely clearing and settlement of RMB Initial Public Offering refund, a new bulk clearing service for RMB Special CCASS items was introduced also on the said date.
News in 2010
Regional CHATS Payment Service (“RCPS”)
To sustain Hong Kong’s status as a regional hub and to cope with the expansion of local Renminbi (“RMB”) business, the RCPS has been enhanced to include RMB in addition to the original 3 currencies, i.e. HKD, USD and Euro. This additional service is available since 20 December 2010. RCPS service providers who wish to provide RMB RCPS can subscribe this enhanced service with HKICL.
Same Day Settlement JETCO Items
This new service launched on 20 September 2010 allows the members of Joint Electronic Teller Services Limited (“JETCO”) an option to enjoy earlier funds availability as the interbank payments initiated by JETCO are settled within the same day of submission. The existing settlement on the working day after submission remains unchanged.
Same Day Settlement EPS Items
This new service launched on 20 September 2010 allows the participating merchants of Easy Payment System (“EPS”) an option to enjoy earlier funds availability as the settlement of the EPS items submitted to HKICL by Easy Payment System Company (Hong Kong) Limited is done within the same day of submission. The existing settlement on the working day after submission remains unchanged.
Cross-border Autodebit Service Using China UnionPay HKD Debit Cards
In view of the frequent economic interaction between Hong Kong and Shenzhen, we have launched a Cross-border Autodebit Service jointly with China UnionPay (“CUP”) and Shenzhen Financial Electronic Settlement Centre on 27 September 2010. This service facilitates payment made by debtors in Hong Kong to merchants in Shenzhen using CUP HKD Debit Card.
Browser-based RTGS front-end applications on SWIFTNet and Internet
The front-end terminal applications of the RTGS systems were successfully migrated from the text-based MBT/400 and CMT/400 to browser-based applications on 12 July 2010. After the migration, eMBT via SWIFTNet is the front-end terminal application of CHATS of all clearing currencies, while eCMT via SWIFTNet and iCMT via the Internet are the front-end terminal applications of the HKMA's CMU. The new eMBT, eCMT and iCMT are user friendly applications that improve the users’ operations in addition to the enhanced system functionalities.
Payment-versus-Payment Settlement for US Dollar ("USD") and Indonesian Rupiah ("IDR")
A new payment system linkage between the USD CHATS and the BI-RTGS System (Bank Indonesia's RTGS system) for payment-versus-payment (“PvP”) settlement of USD/IDR foreign exchange transactions was launched on 25 January 2010. This new payment systems linkage facilitates PvP settlement of USD/IDR foreign exchange transactions as a measure to eliminate settlement risk for the banking institutions in Hong Kong and Indonesia.
News in 2009
The establishment of cross-border links with the clearing and settlement systems of other Asian countries will help developing Hong Kong into a payment and settlement hub for the region. Following the successful linkage of USD CHATS with RENTAS (a real time electronic transfer of funds and securities system) in Malaysia to facilitate the real time payment versus payment transactions of USD/Malaysian Ringgit, and the settlement in Hong Kong of the cash leg of the real time delivery versus payment transactions of USD bonds traded in Malaysia, a cross border link for fund transfers between Hong Kong’s RTGS systems and the Mainland’s foreign currency RTGS systems was launched on 16 March 2009. This cross border link facilitates 2-way real-time USD, HKD and Euro funds transfers between banks in Hong Kong and banks participating in the RTGS systems of the respective currencies in the Mainland. A list of the banks in Mainland that participate in the cross border link can be found on HKICL website.
Effective 25 May 2009, the RTGS systems of all clearing currencies are able to support payment transactions transmitted in SWIFT message format.
News in 2008
Effective 23 June 2008, in addition to HKD cheques, USD cheques drawn on banks in Macau and presented by banks in Hong Kong can be settled on the following working day.
The RTGS operating hours were extended by one hour from 17:30 hours to 18:30 hours, Mondays to Fridays except General Holidays, effective 3 November 2008 in order to allow banks in Hong Kong that have business with the Mainland and western Asian countries more time to process their remittance payments which in turn could enhance their services and help developing Hong Kong as a regional payment HUB to serve the neighbour countries in the region.
A new clearing service to enhance the refund process of the electronic initial public offering (“eIPO”) of the Central Clearing and Settlement System (“CCASS”) was launched on 15 December 2008. Under this new service, the inter-bank settlement of the eIPO refund monies is performed on the refund day so that the CCASS participants can receive the refund monies in good funds on the same day instead of previously on the working day following the refund day. .
News in 2007
The Regional CHATS Payment Services was launched in July 2007 which linked all participants of the existing HKD, USD and Euro RTGS systems in Hong Kong in order to build an extensive correspondent network to facilitate the cross-border payments through the RTGS systems in Hong Kong during Asian business hours.
To support the clearing and settlement of the RMB-denominated transactions in Hong Kong, a full-fledged Renminbi RTGS system, and the RMB local cheque clearing were introduced on 18 June 2007.
The one-way clearing for HKD cheques drawn on banks in Hong Kong and presented by banks in Macau was introduced in August 2007 to reduce the time taken for Macau residents to receive funds.
The linkage between Hong Kong’s USD RTGS Systems and Malaysia’s Rentas Scriptless Securities Trading System for delivery-versus-payment settlement of USD bonds in Malaysia was introduced on 12 November 2007. This linkage eliminates settlement risk of USD bonds issued and traded in Malaysia by ensuring simultaneous delivery of US dollars in Hong Kong and USD bonds in Malaysia.
The opening of the RTGS settlement window was advanced by 30 minutes from 09:00 hours to 08:30 hours with effect from 3 December 2007 in order to allow banks more time for the settlement of CCASS related payments given the booming stock market, which in turn helps banks to better manage their liquidity for the settlement of CCASS items.
News in 2006
Payment versus Payment (PvP) Settlement for USD and Malaysian Ringgit (MYR)
The Hong Kong Monetary Authority and Bank Negara Malaysia (BNM), the Central Bank of Malaysia has agreed to establish a link between the Ringgit real-time gross settlement system in Malaysia (the RENTAS system) and the USD real-time gross settlement system in Hong Kong (USD RTGS system). This payment link enables the reduction of foreign exchange settlement risk through the implementation of a PvP mechanism during the Malaysia and Hong Kong business hours, and helps to increase the efficiency and safety of payment systems in Malaysia and in the region, in particular to manage FX settlement risk exposure for the FX transactions involving the US dollar and MYR.
This new system was launched on 13 November 2006.
Renminbi Settlement System
HKICL has been engaged by Bank of China (Hong Kong) Limited, the Clearing Bank ("CB") for RMB business in Hong Kong, to develop a Renminbi Settlement System ("RSS") that provides participants of this system with RMB cheque clearing service, and real-time RMB payment services including RMB position-squaring, remittance processing, and RMB bank card payment.
Licensed banks in Hong Kong, as well as their credit card subsidiaries can join the RSS with the permission from the CB and the HKMA, and each participant has to maintain a settlement account with the CB. The RSS is launched on 6 March 2006.