The Hong Kong Stock Exchange’s Stock Connect system, which links Hong Kong’s stock markets with those in mainland China, is getting an upgrade thanks to blockchain technology. According to a press release, the upgraded Stock Connect, dubbed Synapse, will incorporate smart contracts to help execute post-trade workflows and reduce settlement risk. Synapse is able to simultaneously create settlement instructions for all parties along the settlement chain, facilitating concurrent processing. The average daily turnover of the Stock Connect totaled $15.302 billion in the first half of 2023, up 5 percent from a year earlier, and a 50 percent increase from 2020 levels.
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