The SFC said it welcomes PBOC measures to support Hong Kong fixed-income and
money markets. The China Foreign Exchange Trade System will co‑build an
electronic fixed‑income and money‑market trading platform with HKEX in Hong
Kong; launch timetable to be announced. Onshore China government bonds and
policy bank bonds held under Bond Connect northbound will be accepted as
eligible collateral by HKEX’s two clearing houses — Hong Kong Futures Clearing
Corporation Ltd and HKEX Options Clearing House Ltd — with a target
implementation date of end‑2026. The SFC is discussing further optimisation of
Swap Connect with the PBOC, including a plan to add the interbank 7‑day deposit
institution repo fixing rate (FDR007) as a Swap Connect contract reference rate
in Q4 2026.
