The pilot will explore the use of a wholesale central bank digital currency for after-hours derivatives margin payments.
Hong Kong Exchanges and Clearing (HKEX) and the Hong Kong Monetary Authority (HKMA) have launched a joint pilot project to explore the use of a digital payment solution for after-hours trading (AHT) in the derivatives market. The pilot is designed to improve flexibility and efficiency The initiative will examine the use of e-HKD, a wholesale central bank digital currency (CBDC) that operates 24/7, for advance margin payments during the AHT session. HKEX and the HKMA noted that the pil