PANews reported on November 3 that the Hong Kong Securities and Futures Commission (SFC) issued a circular regarding the sharing of liquidity among virtual asset trading platforms. This circular allows licensed virtual asset trading platform operators to integrate their listings with qualified overseas platform operators to share liquidity, enabling cross-platform trading and execution. Platforms must adopt Direct Verification (DVP) for both payment and banking, and monitor the limits on intraday settlement and unsettled transactions. They must also establish a reserve fund and insurance / indemnification arrangements in Hong Kong with a minimum limit to cover settlement asset risks. Market surveillance must be uniformly implemented and able to provide real-time transaction and customer data to the SFC. Before targeting retail markets, platforms must provide full risk disclosure and obtain customer selection, simultaneously applying for written approval, along with additional terms and conditions.PANews reported on November 3 that the Hong Kong Securities and Futures Commission (SFC) issued a circular regarding the sharing of liquidity among virtual asset trading platforms. This circular allows licensed virtual asset trading platform operators to integrate their listings with qualified overseas platform operators to share liquidity, enabling cross-platform trading and execution. Platforms must adopt Direct Verification (DVP) for both payment and banking, and monitor the limits on intraday settlement and unsettled transactions. They must also establish a reserve fund and insurance / indemnification arrangements in Hong Kong with a minimum limit to cover settlement asset risks. Market surveillance must be uniformly implemented and able to provide real-time transaction and customer data to the SFC. Before targeting retail markets, platforms must provide full risk disclosure and obtain customer selection, simultaneously applying for written approval, along with additional terms and conditions.
The Hong Kong Securities and Futures Commission (SFC) allows licensed virtual asset trading platforms to share their listing lists with overseas platforms and has established a compensation mechanism.
2025/11/03 12:48
PANews reported on November 3 that the Hong Kong Securities and Futures Commission (SFC) issued a circular regarding the sharing of liquidity among virtual asset trading platforms. This circular allows licensed virtual asset trading platform operators to integrate their listings with qualified overseas platform operators to share liquidity, enabling cross-platform trading and execution. Platforms must adopt Direct Verification (DVP) for both payment and banking, and monitor the limits on intraday settlement and unsettled transactions. They must also establish a reserve fund and insurance / indemnification arrangements in Hong Kong with a minimum limit to cover settlement asset risks. Market surveillance must be uniformly implemented and able to provide real-time transaction and customer data to the SFC. Before targeting retail markets, platforms must provide full risk disclosure and obtain customer selection, simultaneously applying for written approval, along with additional terms and conditions.
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