Broadridge and China Renaissance to Expand Post-trade Processing via Stock Connect

Investment bank China Renaissance has expanded its post-trade processing partnership with Broadridge Financial Solutions via Stock Connect to facilitate the clearing and settlement of both Shenzhen- and Shanghai-listed equities according to a story in The TRADE news. The expansion builds on the solutions China Renaissance has offered clients in equity trading via Stock Connect, with Broadridge’s post-trade solution implemented in March last year. Additionally, the expansion follows the Hong Kong-listed equities processing that Broadridge has provided to China Renaissance since 2016. Both firms are jointly preparing for upcoming market and regulatory changes, such as Hong Kong Exchange’s (HKEX) Synapse program – a new settlement platform on the Northbound Stock Connect programme – and Fast Interface for New Issuance (FINI) proposal, which aims to replace the existing T+5 process with T+1 for newly listed shares on HKEX.