HKEX and HKMA Launch Pilot for Digital Payments in After-Hours Derivatives Trading Session

HKEX and HKMA launch pilot project to enable digital payment solution for derivatives After-Hours Trading

The following is issued on behalf of the Hong Kong Monetary Authority:

Hong Kong Exchanges and Clearing Limited (HKEX) and the Hong Kong Monetary Authority (HKMA) announced today (June 18) a joint pilot project to explore a new digital payment solution for the After-Hours Trading (AHT) session in the derivatives market (Note 1).

This initiative aims to enhance Hong Kong's capital market and meet the growing market demand for AHT. In this connection, HKEX and the HKMA are exploring the use of e-HKD - a wholesale central bank digital currency (CBDC) operating on a 24/7 basis - for advance margin payments in the AHT session, enhancing the risk management capabilities of the derivatives market outside regular banking hours, whilst maintaining the existing operational workflows.

This pilot project will provide more flexibility and efficiency than the existing arrangement for advance margin payments. Currently, Clearing Participants (CPs) must submit advance margin deposit requests to the HKFE Clearing Corporation Limited (HKCC) by 3pm for funds to be counted for the subsequent AHT session.

HKEX is inviting CPs under the HKCC to participate in Real-Value Trial Transactions of this pilot initiative on an optional basis (Note 2). The Real-Value Trial Transactions, as well as any subsequent wider adoption, are subject to regulatory approval, market readiness and other relevant considerations.

The HKEX Chief Operating Officer, Vanessa Lau, said, "We are delighted to collaborate with the HKMA on this latest initiative to advance market accessibility and strengthen Hong Kong's capital markets infrastructure. By exploring the use of CBDC, we aim to provide a more flexible and timely payment option outside of regular business hours, and address longstanding operational pain points in the industry. This project reflects the shared commitment of HKEX and the HKMA to embracing innovation, strengthening the resilience of our markets and reinforcing Hong Kong's position as a leading international financial centre."

HKMA Deputy Chief Executive Howard Lee said, "As Hong Kong's financial infrastructure evolves to meet the growing demands of the market, the HKMA is committed to advancing innovation that enhances efficiency and resilience. The joint pilot with HKEX to enable advance margin payments for AHT using e-HKD demonstrates a wholesale application of CBDC in a live market environment, while underscoring our strong partnership with the industry stakeholders in driving financial innovation."

Note 1: Hong Kong derivatives market has been growing from strength to strength with an average daily volume (ADV) record of 1.66 million contracts achieved in 2025. This momentum carried into 2026, with ADV exceeding 1.78 million contracts in the first five months.

Note 2: More details are available on a circular published today on the HKEX website.

Source: AI-found images

EPD awards Sha Tin Transfer Station Third Follow-On Contract

The Environmental Protection Department (EPD) today (June 18) announced that, following an open tender process, Grandblue Canvest - Pekko Joint Venture has been awarded the Sha Tin Transfer Station Third Follow-On Contract.

"The Sha Tin Transfer Station (STTS) commenced operation in 1994 and has been in operation for over 30 years. As most of the facilities at the station have aged with significant wear and tear, modification and upgrading works are required to enhance their operational efficiency and environmental performance. The EPD plans to begin the works after the expiry of the existing operation contract this October, with phased completion targeted in about five years. During the construction period, normal services at the STTS will be maintained," an EPD spokesperson said.

The major items of the works comprise the provision and replacement of waste-handling and waste-transferring mechanical plants, upgrades to the wastewater treatment, odour control and automatic vehicle washing systems, and improvements to the building's aesthetic appearance, energy efficiency, and the surrounding environment of the STTS. Upon completion of the works, the STTS will further enhance its waste-handling efficiency and overall environmental performance.

"The works will introduce smart technology elements, including real-time monitoring and safety management systems, to enhance site safety and operational management. The new operation contract will also strengthen community promotion and liaison measures, and raise public awareness of waste management, waste reduction and recycling through guided visits," the spokesperson added.

The STTS, located at On Hing Lane, Shek Mun, Sha Tin, is one of the seven waste transfer stations in Hong Kong and serves as an important municipal solid waste (MSW) transfer facility in the New Territories East. It receives MSW mainly from Sha Tin and Ma On Shan, and partly from New Territories East and Kowloon East. The waste is compacted at the transfer station before being containerised in purpose-built containers for onward transportation to landfills or Integrated Waste Management Facilities for disposal.

Source: AI-found images