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).
Hong Kong Exchanges and Clearing Limited, Photo source: reference image
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, Photo source: reference image
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.
DH reminds public to take precautions against heat-related illnesses during very hot weather
The Centre for Health Protection (CHP) of the Department of Health (DH) today (June 21) reminded members of the public to take appropriate precautions against heat-related illnesses, such as heat cramps, heat exhaustion and heat stroke, during very hot weather.
In a high-temperature environment, excessive sweating and difficulty in heat dissipation can cause stress to the body. Members of the public should take the following precautions:
- Hydrate in a timely manner to prevent dehydration;
- Wear light-coloured, loose-fitting and breathable clothing to minimise heat absorption and facilitate perspiration and heat dissipation;
- Keep indoor areas well ventilated and maintain appropriate temperature and humidity, e.g. by opening windows or using a fan or air-conditioning;
- Avoid strenuous exercise and prolonged activities such as hiking or trekking;
- Arrange outdoor activities in the morning or the late afternoon, if possible, and bring enough water; and
- Avoid beverages containing caffeine, such as coffee and tea, as well as alcoholic beverages, which may speed up water loss through the urinary system.
In addition, infants and children, the elderly, pregnant women, individuals with chronic illnesses such as heart disease or high blood pressure, overweight people and outdoor/manual workers are more susceptible to heat stroke. These groups should pay special attention to the following:
- Infants and young children: Avoid going outside when the temperature is high. If they must go outside, adults should ensure they stay in places with moderate temperatures and good ventilation or air-conditioning. Infants and young children should never be left unattended in a confined space such as a vehicle;
- The elderly, pregnant women, individuals with chronic illnesses and overweight people: Pay close attention to health conditions and seek help as soon as possible if experiencing any abnormalities in health indicators such as blood pressure, heart rate, etc or if there are fluctuations in health conditions. Avoid going out when the temperature is high. Make sure there is good ventilation, or turn on a fan or air-conditioner to keep an appropriate temperature indoors. High temperatures can also worsen the condition of people with chronic illnesses (such as cardiovascular and respiratory diseases). Therefore, they should have an ample supply of their usual medication and keep in contact with family members, neighbours and the community. People should seek immediate help if they feel unwell.
- Outdoor/manual workers: Reschedule work to cooler hours as far as feasible. If working in a hot environment is unavoidable, provide shade where practicable and use ventilation and heat dissipation equipment. Once work has begun, gradually adjust the pace of work and take breaks in the shade to regain strength.
The DH reminded the public that heat stroke is one of the most common health risks in hot weather. Over the past five years, there have been over 200 hospital admissions due to heat stroke each year in Hong Kong, with two to five fatal cases occurring mainly during the summer months from May to September. Vulnerable groups are more susceptible to heat stroke. Symptoms include dizziness, headache, nausea, shortness of breath or confusion. In severe cases, patients may suffer from convulsions or become unconscious, which can be life-threatening if they are not cooled down and resuscitated in a timely manner.
Members of the public are also advised to pay attention to the latest weather, as well as the real-time and forecasted ultraviolet (UV) index released by the Hong Kong Observatory (HKO). When the UV index is high (6 or above), the public should note the following:
- Avoid direct sunlight exposure to the skin and the eyes;
- Apply broad-spectrum, water-resistant sunscreen liberally, with a sun protection factor (SPF) of at least 30 or higher, when participating in outdoor activities. Reapply every two hours if staying outdoors for long periods, or after swimming, sweating or towelling off;
- While using DEET-containing insect repellents for personal protection against mosquito-borne diseases, apply sunscreen before insect repellent;
- Seek shade;
- Wear UV-blocking sunglasses;
- Wear loose-fitting clothing with long-sleeves; and
- Wear a wide-brimmed hat or use an umbrella.
If symptoms develop, such as dizziness, headache, nausea, shortness of breath or confusion, rest and seek help immediately, and seek medical advice as soon as possible.
For more health information, the public may visit theCHP's heat strokepage andUV radiation page; the HKO's Dial-a-Weather (1878 200),latestweather report and forecast,UV Indexand weather information forhiking and mountaineering; andpress releasesof the Labour Departmenton precautions against heat stroke for outdoor workers and their employers when the Heat Stress at Work Warning is in force.
Source: AI-found images
