Bloomberg Launches Multiple Initiatives to Support the Trial Operation of Hong Kong's Central Gold Clearing System
Source: Shanghai Securities News · China Securities Net
On July 7th, Bloomberg announced the launch of several initiatives to support the trial operation of the Hong Kong Central Clearing System and the over-the-counter (OTC) gold trading market, including the introduction of the new Hong Kong Gold (HAU) product on Bloomberg Terminal. Bloomberg has also released a dedicated "HAU Reference Guide" to help terminal users understand the mechanism, access price information, and incorporate the new price code into existing trading and investment workflows.
The Hong Kong Special Administrative Region Government announced today the official commencement of the trial operation of the Hong Kong Gold Central Clearing System, along with a series of supporting measures to establish a modern and full-chain gold trading ecosystem. This includes the creation of a brand-new price code—HAU—to support Hong Kong’s OTC gold trading and settlement. As an important supplement to the existing international gold pricing benchmarks, the HAU price code will provide market participants with a new reference price to reflect Asia market dynamics during trading hours.
Bloomberg leverages its global experience in precious metals data and analytics to support the development of the HAU quoting mechanism. This mechanism aggregates indicative bid and ask quotes from market participants and calculates a real-time composite price, enabling users to stay up to date with Hong Kong gold market pricing information. HAU has now been integrated into Bloomberg Terminal’s various workflows, and users can view and analyze HAU quotes alongside relevant currency data.
Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong SAR Government, stated: "The trial operation of the new Hong Kong Gold Central Clearing System is a strategic initiative to strengthen Hong Kong’s position as a leading international financial center and a global precious metals trading hub. We welcome Bloomberg's launch of the new HAU gold price code and their contribution to building our OTC trading and settlement infrastructure, which will help enhance investor confidence through more efficient market participation."
Bing Li, Chairman of Bloomberg Asia Pacific, said: "The launch of the Hong Kong gold trading market is a significant milestone in the development of Hong Kong’s financial ecosystem. It will not only enhance interconnectivity with the Mainland gold market but also further drive the development of the Asian gold market. Bloomberg is pleased to support the construction of the HAU quoting mechanism through its data, analytics, and workflow solutions, assisting market participants in better accessing real-time updates on the global precious metals market."
Editor: Zhu Henan
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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