clearing corporation
2.Against this background, the Government announced on March 3 a comprehensive reform for the securities and futures market, which included the merger of the two exchanges (SEHK and HKFE) and the three clearing houses (Hong Kong Securities Clearing Company, the SEHK Options Clearing House and HKFE Clearing Corporation) under a new holding company, namely the Hong Kong Exchanges and Clearing Limited (HKEC).
3.The HKMA conferred the status of Recognised Dealer for Exchange Fund Bills and Notes and Specified Instruments to the HKFE Clearing Corporation Limited and the SEHK Options Clearing House Limited in March. This has allowed members of the clearing houses to use their securities as common margin collateral for their positions and has helped in the liquidity management.
