(Yicai Global) July 12 -- The Hong Kong Stock Exchange is examining blockchain, among other technologies, in order to enhance its operation, according to the bourse's chief technology officer. This includes making initial public offerings more efficient.
It is necessary to discuss with different investors about how to improve trading practices, the 21st Century Business Herald reported, citing Richard Leung, speaking at a financial forum.
One of the areas of reform is the IPO regime, Lukas Petrikas, co-head of innovation at the Hong Kong Exchanges and Clearing, told the same news source at the forum.
After agreeing on the target IPO price, it usually takes five days for firms that look to go public on the HKEx to start trading. The goal is bringing that time period down to one day in order to reduce market volatility, Chief Executive Li Xiaojia said in an interview earlier.
The daily trading volume of the HKEx reached 1.6 million transactions on a turnover of USD13 billion, Petrikas said. This is about 3 percent of the global total of USD450 billion, he added.
Editor: Emmi Laine