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Citi completes trades on Hong Kong Synapse platform
October 18, 2023
Citi Securities Services completed a trade settlement for China Asset Management on Hong Kong Exchanges and Clearing Ltd.'s Synapse platform. Citi is the first bank to offer an API-powered Synapse connectivity solution in Hong Kong, according to a press release.
Synapse is a settlement acceleration platform which works alongside the Northbound Stock Connect post-trade infrastructure.
"We warmly welcome Citi as one of the inaugural participants to HKEX Synapse," Glendo So, head of emerging business and FIC, HKEX, said in the release "This new integrated settlement acceleration platform for Stock Connect will enhance operational efficiencies and help support the development of a more robust and interconnected market ecosystem. Citi is the first participant to fully integrate its custody platform with Synapse, enabling seamless execution of trades from day one. We would like to thank them and all participants that have supported the design, build and rollout of Synapse and we look forward to welcoming more participants to the platform as it continues to grow."
