HKEX pushes back T+1 trade settlement to 2028 after brokers request more prep time
Hong Kong Exchanges and Clearing said it had delayed a plan to shorten the settlement time for share transactions to the second half of 2028, so it could address widespread industry requests for more preparation time. Confirming a report by the South China Morning Post on Wednesday, the exchange said in a statement on Friday that it would not proceed with the timeline it proposed in a…
Hong Kong Exchanges and Clearing (HKEX) has delayed its plan to implement a faster share trade settlement system, known as T+1, to September 2028. The exchange made the decision after receiving widespread requests from industry stakeholders for more time to prepare for the change. Initially, HKEX had proposed to introduce a T+1 system in the fourth quarter of 2027, with a T+1 settlement meaning that transactions are settled one day after they occur.
This delay came after receiving "several implementation considerations" from 109 respondents, including brokers, investment managers, and others. Despite the setback, HKEX stated that the market response indicated strong support for shortening the settlement time. The exchange emphasized that consultation feedback highlighted key areas for transitioning to T+1, such as managing increased operational demands and ensuring securities availability and timely settlement preparation.
HKEX CEO Bonnie Chan Yiting expressed satisfaction with moving forward with this infrastructure enhancement, noting that T+1 would reinforce the attractiveness and connectivity of Hong Kong's markets.
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