Two tokenised money market funds managed by China Asset Management (Hong Kong) have begun round-the-clock secondary trading on a licensed virtual-asset trading platform.
The Securities and Futures Commission has approved the arrangement for the ChinaAMC HKD Digital Money Market Fund and the ChinaAMC USD Digital Money Market Fund. Trading began on Monday, 26 October, according to reporting on the regulator’s announcement.
Secondary trading allows investors to buy and sell eligible fund interests through the platform. The move puts into practice a regulatory framework announced in April for secondary trading of tokenised SFC-authorised funds.
Safeguards and next steps
The framework includes requirements covering areas such as pricing, liquidity and disclosure. The SFC says it will monitor the operation of the arrangements, with any broader rollout dependent on experience and ongoing supervision.
The development adds another way for eligible investors to trade tokenised fund interests in Hong Kong. Investors should check the relevant fund and platform documents for access requirements, dealing arrangements, fees and risks before trading.
Sources: Securities and Futures Commission; The Monsoon Ledger.
