Central Banking

HKMA's Euro Clearing System goes live

The Hong Kong Monetary Authority's new Euro Clearing System will process its first transaction on 28 April. The key functions of the Euro Clearing System will include an interbank Real Time Gross Settlement (RTGS) system.

Source: HKMA

Hong Kong will process its first transaction through the new Euro Clearing System on 28 April 2003. The system was commissioned by the Hong Kong Monetary Authority (HKMA) in July 2002, with Standard Chartered Bank appointed as the Settlement Institution. The new s