CMU OmniClear and HKEX sign MOU on enhancing post-trade securities infrastructure of Hong Kong's capital markets
The following is issued on behalf of the Hong Kong Monetary Authority:
CMU OmniClear Limited (CMU OmniClear), a wholly-owned subsidiary of the Exchange Fund, and Hong Kong Exchanges and Clearing Limited (HKEX) signed a Memorandum of Understanding (MOU) today (March 4) to deepen their collaboration in enhancing the post-trade securities infrastructure of Hong Kong's capital markets, and supporting the long-term development of the city's fixed-income and currencies (FIC) ecosystem.
Based on the MOU, CMU OmniClear and HKEX will explore and pursue cooperation in areas such as realising cross-asset class efficiencies across equities and fixed income, expanding the use of Mainland bonds as collateral, enhancing Hong Kong as a bond issuance centre and developing an international central securities depository (ICSD) in Asia, with a view to consolidating and enhancing Hong Kong's status as an international financial centre, a global risk management centre, and an offshore Renminbi (RMB) business hub.
The Chief Executive of the Hong Kong Monetary Authority (HKMA) and the Chairperson of the Board of Directors of CMU OmniClear,Mr Eddie Yue,said "We are delighted to deepen the cooperation with HKEX on financial market infrastructures in Hong Kong. This MOU signifies an important milestone and our shared commitment to supporting the development of Hong Kong's capital markets. This is also a pivotal step in accelerating the transformation of the Central Moneymarkets Unit (CMU) into an ICSD in Asia upon the establishment of CMU OmniClear. With our collective efforts, we believe we can offer the market a wider spectrum of products across asset classes, fostering the continued development and innovation in Hong Kong's financial markets."
The Chief Executive Officer at HKEX, Ms Bonnie Chan,said, "We are delighted to be entering into this cooperation agreement with CMU OmniClear. This agreement underscores HKEX's strategic commitment to build a vibrant, world-leading FIC ecosystem in Hong Kong. We look forward to working closely with the HKMA and CMU OmniClear to advance the development of Hong Kong's fixed-income market, enabling the next chapter of RMB internationalisation and enhancing Hong Kong's status as an international financial centre, a global risk management centre, and an offshore RMB business hub."
CMU OmniClear and HKEX sign MOU on enhancing post-trade securities infrastructure of Hong Kong's capital markets Source: HKSAR Government Press Releases
CMU OmniClear and HKEX sign MOU on enhancing post-trade securities infrastructure of Hong Kong's capital markets Source: HKSAR Government Press Releases
Hong Kong Customs detects drug trafficking case involving incoming passenger at airport
Hong Kong Customs yesterday (May 9) detected a drug trafficking case involving passenger at Hong Kong International Airport and seized about 2.25 kilograms of suspected heroin, four tablets of suspected Viagra and 26 sticks of duty-not-paid cigarette, with a total estimated market value of about $1.4 million. A man was arrested.
A 61-year-old male passenger arrived in Hong Kong from Kuala Lumpur, Malaysia yesterday. During customs clearance, Customs officers found a total of about 2.25 kg of suspected heroin in his check-in suitcase, and four tablets of suspected Viagra and 26 sticks of duty-not-paid cigarette in his carry-on backpack. The man was subsequently arrested.
The arrested person has been charged with one count of trafficking in a dangerous drug, one count of possession of Part 1 poison, one count of possession of dutiable goods and one count of failing to declare to a member of the Customs and Excise Service the possession of dutiable goods. The case will bebrought up at the West Kowloon Magistrates' Courts tomorrow (May 11).
Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people.
Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.
Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
Under the Pharmacy and Poisons Ordinance, any person who possesses any poison included in Part 1 of the Poisons List other than in accordance with provisions commits an offence. The maximum penalty upon conviction is a fine of $100,000 and imprisonment for two years.
Under the Dutiable Commodities Ordinance, any person who imports, possesses, sells or buys dutiable commodities without a valid licence commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.
Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Hong Kong Customs detects drug trafficking case involving incoming passenger at airport Source: HKSAR Government Press Releases
Hong Kong Customs detects drug trafficking case involving incoming passenger at airport Source: HKSAR Government Press Releases
