FIX Trading Community, a non-profit, financial-industry-driven standards body that is the proprietor and steward of the Financial Information eXchange (FIX) protocol language, reports the publication of an implementation guide for the Shanghai-Hong Kong Stock Connect project.
The Shanghai-Hong Kong Stock Connect project will “allow global investors to trade Shanghai ‘A’ shares via the Hong Kong Stock Exchange while Chinese mainland investors will be able to trade Hong Kong ‘H’ shares via the Shanghai Stock Exchange for the first time,” FIX Trading Community officials says in a statement.
The guide was developed in partnership with the Asia Securities Industry and Financial Markets Association (ASIFMA), and is the result of various working groups, consisting of sell-side and buy-side firms, vendors, and other market participants, according to the statement, which also notes that “core market structure, risk checks, quota restrictions and technical implementation, across buy sides, sell sides and the vendor community were all considered.”
The guide “provides a number of suggested tags and their usages, which are set out to provide the industry with a basis for messaging standardization, relating them to the requirement to help understanding of the origination of the workflow. As this program continues to develop, the FIX Trading Community will look to support the buy side, sell side and their vendors with constructive suggestions on how to implement the various regulatory requirements.”
FIX describes its mission as addressing the “business and regulatory issues impacting multi-asset trading across the global financial markets through the increased use of standards, including the FIX Protocol messaging language, delivering operational efficiency, increased transparency, and reduced costs and risk for all market participants.”
To find the guide, go to http://www.fixtradingcommunity.org/pg/file/fplpo/read/1758251/shanghaihong-kong-connectasifma-fix-trading-community-implementation-guide
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