Hong Kong Exchanges & Clearing Ltd. · HKEX:388

Hong Kong Exchanges & Clearing — IPO Roadshow (October 2021)

12 slides from Hong Kong Exchanges & Clearing's IPO roadshow presentation, Oct 6, 2021

  1. Slide 1: Project FINI Update HKAB webinar

    Project FINI Update HKAB webinar City Chan | Raymond Lee IPO Process Management | Innovation and Data Lab 6 October 2021

  2. Slide 2: Summary

    Summary  Published FINI Conclusions Paper and Information Pack [6 July 2021] Project updates  Held HKAB session on FINI’s pre-funding model on [26 July 2021]  Held HKMA Banking Supervision / Banking Policy briefing on pre-funding workflows [18 August 2021] EIPO funding  Confirmed: will use nomin

  3. Slide 3: EIPO funding model

    EIPO funding model

  4. Slide 4: EIPO funding model: Use of Nominee Account Structure

    EIPO funding model Use of Nominee Account Structure Legal title DB, or its nominee company Interest-bearing DB’s discretion No restriction from HKEX, subject to # of nominee account(s) One per DB, across all CPs / IPOs Money recycling HKMA guidelines Designated Bank Receiving Bank A oA After Public

  5. Slide 5: EIPO funding model: Revised money settlement workflows

    EIPO funding model Revised money settlement workflows Designated Bank Receiving Bank A Lock up CP's API pre-funding account Nominee ac HKSCC Pre-funding (intra-bank) Previous proposal B RB's API SWIFT RB's Settle CP's API SWIFT CP's CP's account nominee account + account nominee Surplus Nominee ac A

  6. Slide 6: On-boarding & governance

    On-boarding & governance

  7. Slide 7: On-boarding & governance

    On-boarding & governance  HKSCC Rules & Ops: Defines the duties, roles, obligations and liabilities of CPs (inclusive of those who are also DBs) DDA (1) HKSCC  FINI T&Cs: Defines the rights, duties, roles and responsibilities of FINI users, including CPs Designated DBs and their specific IPO-funct

  8. Slide 8: DB’s legal responsibilities

    DB’s legal responsibilities The DBs should ensure that they have adequate arrangements to track and to protect application monies until instructed by HKSCC to transfer funds to the RB(s). This means that the application monies are to be held in a nominee account opened in the name of the DB or its n

  9. Slide 9: Next Steps

    Next Steps 3

  10. Slide 10: Next steps [Q4 2021]

    Next steps [Q4 2021] 1 User on-boarding  HKEX expects to publish on-boarding materials and updated Information Pack on https://www.hkex.com.hk/fini. o EIPO DBs who are not existing users of HKEX Client Connect should: • Submit HKEX Systems Registration Form for on-boarding onto HKEX Client Connect

  11. Slide 11: FINI target roll out no earlier than Q4 2022

    FINI target roll out no earlier than Q4 2022 FINI launch (earliest) Concept Paper Market briefings Conclusions Amendment of relevant rules, regulations, operating procedures and guidelines FINI user on-boarding FINI system development and testing Pilot group testing Market-wide testing Jan Feb Mar A

  12. Slide 12: Thank you

    Thank you For further information on HKEX, please go to hkexgroup.com and hkexnews.hk For further information on FINI, please go to hkex.com.hk/fini

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