The Hong Kong stock exchange (HKEx) is not ready to support
the trading and clearing of products denominated in
renminbi.Bankers counsel in the city say the
exchanges declarations that it has the systems in place
to handle the growth of an offshore renminbi equity market are
Regulators still need to clarify a number of factors
concerning product development, said the Asia IBD legal head of
a local investment bank.
The HKEx also needs to encourage many more local brokerage
houses to pay for new systems catering to retail investors RMB
needs, he said. He believed that many were delaying investment
in this regard until the market was...