China Renaissance has expanded its post-trade processing relationship with Broadridge Financial Solutions to facilitate the clearing and settlement of Shenzhen- and Shanghai-listed equities via the Stock Connect cross-boundary investment channel connecting the Hong Kong Stock Exchange with the exchanges of Shanghai and Shenzhen. The expansion broadens the scope of the Broadridge post-trade solution offered to China Renaissance clients since March 2020.
Broadridge has also provided China Renaissance Hong Kong-listed equities processing since 2016. As part of the growing relationship, both firms are jointly planning for upcoming market and regulatory changes, such as Hong Kong Exchange and Clearing’s (HKEX) Synapse program and FINI (Fast Interface for New Issuance) proposal, which aims to replace the existing “T+5” process with “T+1” for newly listed shares on HKEX.
“We have been impressed by the resilience of Broadridge’s systems and, as a technology partner, Broadridge understands and supports multiple markets, including north and southbound trading across asset classes,” said Andy Maynard, Managing Director, Global Head of Equities, China Renaissance. “We value our long-term relationship with Broadridge. Their experience with next-generation technologies for clearing and settlement will be beneficial for us to leverage as HKEX’s Stock Connect evolves, and the relationship allows us to be ahead of the curve for our clients.”
Danny Green, General Manager, International Post-Trade at Broadridge, said: “China Renaissance has been able to bring more efficiency to its operations and enable its growth ambitions by leveraging Broadridge’s local expertise and global scale, as seen in the successful implementation of our post-trade processing solution for Stock Connect markets.”