HKEX Must Develop Virtual Asset Options and Futures, Says HK Lawmaker
CryptoNewsTerminal Staff11 Sep, 2024
HKEX Must Develop Virtual Asset Options and Futures, Says HK Lawmaker
Hong Kong lawmaker Li Wei Hong has urged the Hong Kong Exchanges and Clearing (HKEX) to expedite the launch of a 23-hour trading system and develop more derivative products, including virtual asset options and futures, according to a report by local Hong Kong media outlet, Ta Kung Pao. Li emphasized the need for brokerages to diversify their offerings and embrace innovative models to drive the growth of the financial services industry, particularly in high-value-added sectors such as virtual assets and Web3. This move aligns with Hong Kong's ambition to establish itself as a regional hub for virtual asset trading and innovation. The HKEX has previously announced plans to launch a virtual asset exchange and introduce related products and services. By developing a comprehensive suite of derivative products, including virtual asset options and futures, the HKEX can provide investors with more sophisticated tools to manage risk and enhance their investment strategies in the burgeoning virtual asset market.
