Central Banking

Hong Kong's RTGS passes share-dealing-surge test

Optimisers in Hong Kong's high-value payments system meant it was able to cope with the explosion in initial purchase offers and lively market trading in 2007, Esmond Lee and Sara Yip, two members of the Financial Infrastructure Department at the region's monetary authority, find.

Intraday repo turnover hit HK$60 billion ($7.7 billion) last year as huge numbers of shares changed hands. "The turnover efficiency was as high as 15 times in 2007 [in the last decade it has tended to hover around ten

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FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

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