On 9/28: HKEX will launch its new IPO platform FINI on November 22.


HKEX will launch its new IPO platform, FINI, on Nov 22. DTCC has named Brian Steele as President of Global Clearing and Settlement Services.

1. Hong Kong Exchanges and Clearing Limited (HKEX) to Launch New IPO Settlement Platform FINI on November 22 This Year

The Hong Kong Exchanges and Clearing Limited (HKEX) confirmed today (September 27, 2023) that Hong Kong's new digital IPO settlement platform, FINI, will be launched on November 22, 2023. The launch of FINI marks a significant development milestone in the evolution of Hong Kong's capital markets.

The existing IPO settlement platform, CCASS, will be discontinued after the market closes on November 21, 2023. All new listings that publish their prospectuses on or after November 22, 2023, will be processed on the FINI platform.

2. The Depository Trust & Clearing Corporation (DTCC) Appoints Brian Steele as President of Clearing and Securities Services

The Depository Trust & Clearing Corporation (DTCC) announced on September 27, 2023, the appointment of Brian Steele as the General Manager and President of the Clearing and Securities Services division, effective October 2, 2023. Steele will join DTCC's Management Committee, Risk Management Committee, and Investment Management Committee. In addition, he will serve as the Chairman of the ITP Board of Directors.

Before joining DTCC, Steele worked at Goldman Sachs for nearly 20 years, serving as the global head of Market Structure Solutions in the Global Markets division since July 2022. As DTCC's President of Clearing and Securities Services, Steele will oversee all DTCC's clearing and securities services operations, including equity settlement and clearing, fixed income clearing, wealth management services, asset services, and institutional trade processing (ITP).

3. Blue Ocean Technologies Forms Strategic Partnership with QUODD

Blue Ocean Technologies, a financial technology company in the capital markets domain, has established a strategic partnership with QUODD, a global financial data provider aimed at offering post-market trading capabilities for US markets to global investors. According to a press release, Blue Ocean Technologies will provide its smart trading and real-time post-market data to QUODD's global customers.

4. Visa Activates its Office in Egypt

Visa has officially activated its office in Egypt, aimed at enhancing its long-term talent recruitment strategy by attracting and retaining key personnel. The staff at the Egyptian office will support key tasks both locally and regionally.

5. Hypothekarbank Lenzburg Becomes a New Member of the SDX Central Securities Depository

SDX, a stock exchange and CSD operator utilizing Distributed Ledger Technology (DLT) under the supervision of the Swiss Financial Market Supervisory Authority (FINMA), and part of the Swiss SIX Group, announced that Hypothekarbank Lenzburg AG, a Swiss mortgage bank, has become a new member of its Central Securities Depository (CSD).

6. Deutsche Bank Appoints Dominik Hennen as Head of Personal Banking Division

The banking division, which includes retail business activities for both Deutsche Bank and Postbank brands, serves the majority of Deutsche Bank's private banking's 19 million customers. Hennen will take up his position on October 1, 2023, and join the Private Bank Executive Committee. He will report to Lars Stoy, the head of private banking in Germany.

7. Swissquote Announces Nestor Verrier as the Next Chief Operating Officer (COO)

Swissquote, a Swiss online banking firm, has announced the appointment of Nestor Verrier as the next Chief Operating Officer (COO), succeeding the COO Lino Finini, who is retiring at the end of 2023. Verrier will take office on January 1, 2024.

Nestor Verrier has been serving as the General Manager of Swissquote Bank Europe since 2019. With 20 years of experience in the international banking industry, he has held leadership positions in operations, IT development, and security analysis.

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The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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Initial Public Offering

An Initial Public Offering (IPO) refers to the process by which a private company issues shares of stock to the public for the first time, allowing it to be listed and traded on a stock exchange.

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