Anonymous sources revealed that the HKEX or Hong Kong Stock Exchange is observing occupation in the blockchain and other sectors of technology.
Bloomberg mentioning, “people with information and facts of the subject” as uttering that the cryptocurrency exchange is planning a modification in approach because of stalling trading links with China exchanges, which aggravating China-US trade relationships as a further reason for the problem.
According to the reliable source, Charles Li, Chief Executive Officer of Hong Kong Stock Exchange has congregated with “ at least three investment banking organization” to talk about branching out the exchange model, which takes account of a set of invasions in the information, analytics as well as blockchain departments.
They purportedly suggest that Charles is eyeing to the Nasdaq Inc and CME Group Inc, venture capital arms of stalwart exchanges based in the United States, as possible models, with the source noting that Nasdaq Inch saw nineteen percent of its profit in a previous year from data products and the thirteen percent came from market technology.
On the contrary, Bloomberg’s info shows that 100 percent of Hong Kong Stock Exchange revenue last year came from trading and clearing fees. Reliable sources further claim potential acquisitions of blockchain tech were the “subject” of current vital meetings by HKEX- a convention with senior managers last September 10 and board meeting held last September 12. This exchange report that because of the launching of a 3-year tactic program beginning next year, of which the information at present is under conversation.
Banny Lam, CEB Internation Investment Corporation head of research sent an email to Bloomberg telling that the plan or policy isn’t the right way. On the other hand, it’s not that easy to get the targets. Exchange to become successful is required to sustain the momentum of development by looking at new businesses.
HKEX, according to the source experience difficulty in integrating its 2012 attainment of London Metal Exchange. HKEX advisor said, there are concerns on the victory of future deals.
In China, blockchain tech has been developing inroads into the very infrastructure of key stock exchanges. A few weeks ago, SSE or Shanghai Stock Exchange, the 4th biggest stock exchange in the world released strategy to adopt this latest tech for application in securities deals and transactions.
ASX or Australian Securities also has a plan of implanting this system to replace its existing technology for dealing out equity dealings, a change which is currently scheduled for 2021.
