China Renaissance’s tech upgraded for Stock Connect

To facilitate the clearing and settlement of both Shenzhen- and Shanghai-listed equities, Hong Kong investment bank China Renaissance has expanded its post-trade processing relationship with Broadridge Financial Solutions.

This expands an existing relationship with the fintech vendor. It allows Chian Renaissance to offers clients in equity trading via Stock Connect, the Hong Kong Stock Exchange’s channel for accessing mainland securities, via a post-trade solution that Broadridge introduced last year.

Broadridge has been supporting the firm’s Hong Kong-listed equities processing since 2016.

As part of the growing relationship, both firms are jointly planning for upcoming market and regulatory changes, such as HKEX’s Synapse program, a blockchain-based means of enabling foreign investors to operate on China’s same-day trade settlement cycle.

They will also cooperate on HKEX’s FINI (Fast Interface for New Issuance) proposal, which aims to replace the existing T+5 (five days post-trade settlement) process with T+1 for newly listed shares on HKEX. 

Andy Maynard, managing director and global head of equities at China Renaissance, said, “We value our long-term relationship with Broadridge. Their experience with next-generation technologies for clearing and settlement will be beneficial for us to leverage as HKEX’s Stock Connect evolves, and the relationship allows us to be ahead of the curve for our clients.”

China Renaissance provides one-stop financial services across mainland China, Hong Kong and the United States, serving new economy entrepreneurs and investors globally. It seeks to operate globally across multiple asset classes.