Hong Kong Exchanges and Clearing Ltd (HKEX) signed a memorandum of understanding with Cross‑Border Interbank Payment Clearing Co., operator of the Cross‑Border Interbank Payment System (CIPS), to deepen cross‑border RMB cooperation and support Hong Kong’s fixed‑income and FX ecosystem. Under the MoU, HKEX affiliate Hong Kong OTC Clearing Co. intends to apply to become a CIPS direct participant by end‑2026; CIPS will provide required guidance and training. As a direct participant, the OTC clearin

Hong Kong Exchanges and Clearing Ltd (HKEX) signed a memorandum of understanding with Cross‑Border Interbank Payment Clearing Co., operator of the Cross‑Border Interbank Payment System (CIPS), to deepen cross‑border RMB cooperation and support Hong Kong’s fixed‑income and FX ecosystem. Under the MoU, HKEX affiliate Hong Kong OTC Clearing Co. intends to apply to become a CIPS direct participant by end‑2026; CIPS will provide required guidance and training. As a direct participant, the OTC clearing entity would be able to settle RMB funds directly via CIPS, enabling more efficient cross‑border RMB clearing and settlement for its participants. The firms will also cooperate on product and business development, market expertise sharing and expansion of cross‑border RMB services.