FINWIRES · TerminalLIVE
FINWIRES

Hong Kong Introduces Framework for Secondary Trading of Tokenized Products

By

-- Hong Kong's Securities and Futures Commission rolled out a new regulatory framework to enable secondary trading of tokenized investment products, according to a press release on Monday.

The initiative will initially allow trading of tokenized SFC-authorized open-ended funds on licensed virtual asset trading platforms, with the regulator also open to considering over-the-counter arrangements on a case-by-case basis.

The framework introduces safeguards covering pricing, liquidity, disclosure, and orderly trading, drawing on exchange-traded fund mechanisms and existing virtual asset platform infrastructure, the regulator said.

It also paves the way for potential 24/7 trading supported by regulated stablecoins and tokenised deposits.

The initial rollout will focus on tokenised money market funds, with the regulator set to review operations before expanding the scope.

Related Articles

Equities

Phillips 66 Closes Acquisition of Lindsey Oil Refinery Assets in UK

Phillips 66 (PSX) said Tuesday its UK subsidiary has completed the acquisition of assets and associated infrastructure of Prax Lindsey Oil Refinery.The deal, unveiled in January, will see the assets integrated into Phillips 66's Humber Refinery operations in North Lincolnshire, the company said.The Humber Refinery produces sustainable aviation fuel, graphite coke for electric vehicle batteries, petrochemical feedstocks and transportation fuels, according to Phillips 66.

$PSX
Asia

Vardhman Special Steels' Profit Rises in Fiscal Q4; Shares Up 10%

Vardhman Special Steels' (NSE:VSSL, BOM:534392) profit after tax rose to 339.8 million Indian rupees in the fiscal fourth quarter ended March 31, from 197.3 million rupees a year ago.Earnings per share came in at 3.51 rupees from 2.41 rupees, the steel manufacturer said in a filing to the Indian stock exchanges on Tuesday.Revenue from operations in fiscal Q4 also increased to 4.58 billion rupees from 4.28 billion rupees a year ago.The company's board recommended a dividend of 3.5 rupees per share for the financial year ended March 31.The company's shares were up over 10% in recent trade.

$BOM:534392$NSE:VSSL
Asia

Market Chatter: Indonesia Government Targets 5.7% GDP Growth in Q2

The Indonesian government is looking to grow its second quarter GDP to 5.7%, The Jakarta Post reported Monday."We will give the economy a push" to achieve the target growth, Finance Minister Purbaya Yudhi Sadewa said while speaking at a media briefing April 24 , according to the report.He added that a focus on expedited government spending and enhanced budget management may also be used to support the growth.An increase of over the usual 5% will be pushed despite adverse external conditions amid the ongoing Middle East conflict.GDP growth in the first quarter is also expected to surpass 5% due to a surge in consumer spending in Ramadan and Eid ul Fitr Holidays, and a base effect as the Q1 GDP in 2025 was relatively low.Statistics Indonesia (BPS) will announce Q1 GDP next week, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^JKSE