HKEX and HKMA Launch Pilot on e-HKD for After-Hours Margin Payments

▤ Summary

HKEX and HKMA have launched a pilot to test e-HKD for after-hours margin payments in the derivatives market. The project explores a wholesale CBDC that can settle advance margin payments outside normal banking hours. The goal is to improve risk management and reduce operational friction for clearing participants without changing existing workflows. HKEX is inviting HKCC members to join voluntary real-value trials, and broader adoption will depend on regulatory approval and test results.

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