Dion Adds Tool to Nova for Stock Connect

The Shanghai-Hong Kong Stock Connect scheme, which is due to begin in late October or early November, will allow foreign investors to trade mainland Chinese stocks and enable mainland investors to trade Hong Kong-listed stocks.

Within its clearing and settlement solution, Nova, Dion has built a new tool that helps to process cross-border trades made by Hong Kong brokers on the Shanghai Stock Exchange.  The new Nova module is said to handle multiple market execution feeds as well as the difference in trade processing times, while resolving the variety of report formats.

“Shanghai–Hong Kong Stock Connect is a key development for China’s mainland global financial integration,” says Joe Nash, managing director of Asia at Dion. “Dion has been working with brokers in Hong Kong for almost 20 years, providing solutions that not only satisfy local requirements, but also enable firms to trade in regional and global markets. Over this time, China has become an economic giant and we see the Stock Connect programme as a significant leap in China’s efforts to expand its domestic equity market.”