Key facts
- HKEX has implemented changes to the rates it pays on posted collateral.
- Clearing members acknowledge these changes as a positive development.
- Despite the changes, a notable disparity persists when compared to international competitors.
Clearing members have expressed a desire for Hong Kong Exchanges and Clearing (HKEX) to offer more competitive rates on posted collateral. While acknowledging recent adjustments made by the central counterparty (CCP) late last year, industry participants feel that HKEX still lags behind its global peers in this regard.
A head of Asia rates trading at a global bank described the recent changes as a "positive step forward." However, they also pointed out that "there is still a significant gap compared with" what other international CCPs offer, indicating that further improvements are necessary to enhance HKEX's competitiveness in the market.