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Hundsun: Hong Kong Brokerage Customers Have Completed Technical Preparations for Shenzhen-Hong Kong Stock Connect

2016-09-13 09:00 3238

HANGZHOU, China, Sept. 13, 2016 /PRNewswire/ -- After Shenzhen Stock Exchange recently released comments and a time schedule of the launch of Shenzhen-Hong Kong Stock Connect (thereafter Shenzhen-HK Stock Connect), the financial technology provider -- Hundsun Network -- said that up to now all HK Hundsun cooperated brokers have completed the technical development preparation. The system will go live after the docking test with Shenzhen-HK Stock Connect.

Hundsun provides technical services for Hong Kong and mainland brokers

The previous Shenzhen-HK Stock Connect rules clearly required that all brokers should complete the preparation of the technical development in late September and all preparations in early November. All HK Hundsun cooperated brokers, including GF Securities (Hong Kong), China Securities International. (CSCI), Orient Finance Holdings (Hong Kong) Limited, etc., have completed the preparation of technical development.

Joson, the Network Leader of HK Hundsun Network said: "Hundsun provides Shenzhen-HK Stock Connect System for brokers and has completed technology research and development work. This system is a part of the global financial platform of securities and futures transactions of Hundsun. This system has the advantages of flexible funding mode control, multi-currency exchange rate extension, 24/7 supporting extension, effective and efficient transaction process, timely and effective risk controls, etc. At the same time, Hundsun provides custody service in Hong Kong, including hardware integration scheme, more efficient to help new financial institutions to operate business at low cost in Hong Kong."

Shenzhen-HK Stock Connect is just a beginning

Official data shows that currently the mainland enterprises occupied approximately 50% of 1,800 public companies in the Hong Kong financial market. From market value perspective, the mainland enterprises maintain approximately 60%, with about 30% being state-owned enterprises. The proportion of private enterprises is also increasing. Around 70% of average daily trading is related to mainland enterprises. The Hong Kong financial market has become the overseas IPO center for mainland enterprises.

In the future, Hong Kong could become the "center of three" -- offshore financial center for mainland investors, offshore RMB pricing center, as well as integrated risk management center for mainland investors. With the release of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, Hong Kong will have a more in-depth cooperation with mainland connectivity. 

Background:

Hong Kong Hundsun Network Limited, is subsidiary of Hundsun INC Ltd in Hong Kong. It provides a full range of financial IT solutions for Hong Kong financial industry. It is one of the HKEx announced BBS qualifed providers. It is also the only one of the core financial products suppliers who could provide comprehensive solutions for sophisticated multi-system unified account management, multi-bank electronic bank securites transfer, global securities / futures transactions in real-time settlement system.

Source: Hundsun.com
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