Hong Kong and Malaysia to offer common bond settlement system

The move to accept securities issued in both countries is the first serious effort to develop common settlement since Asean +3 governments called for such a move in 2003

In a bid to cut bureaucracy and fast forward progress in establishing a common bond settlement platform, an objective first mooted seven years ago by the governments of the Association of South Asian Nations (Asean) plus China, Japan and Korea (Asean +3) countries, the central banks of Malaysia and Hong Kong have set up a separate taskforce to launch their own common platform. This will allow banks in the two countries to accept and settle their respective securities in real time as early as