On Aug. 30, HKEX informed of upgrade to secure file transfer service.
HKEX issued circular regarding the upgrade of secure file transfer (sFTP) service.
Follows HKEX Dec. 2023 notified re 2024 planned initiatives for OTC Clear, #194131.
Service Upgrade
HKEX will roll out the upgraded sFTP service which supports the sFTP report retrieval service and client clearing direct messaging service, collectively sFTP service.
The updated OTC Clear sFTP configuration guide is available on the HKEX website.
Actions required from clearing members (CMs), clearing brokers (CBs), and sponsored settlement members (SSMs) are specified in the Important note attachment.
CMs, CBs, and SSMs are highly recommended to coordinate with their IT teams and/or system vendors to review their internal systems and make necessary changes.
Familiarization Test
CMs, CBs, and SSMs are highly recommended to join the familiarization test which will be conducted from Sep. 30 to Nov. 18, 2024, to ensure their system compatibility.
Further details of the arrangement will be provided by email in due course.
Transitional Arrangements
The existing and updated sFTP service will be available concurrently from Dec. 9, 2024 to Jan. 24, 2025; after Jan. 24, 2025, the existing infrastructure will become obsolete.
CMs, CBs, SSMs shall ensure successful retrieval of OCASS reports by Jan. 24, 2025.
2 optional backup site connectivity test sessions will be held on Jan. 11 and 18, 2025.
Effectiveness
The upgraded sFTP will be rolled out on Dec. 9, 2024.
Regulators
HKEX
Entity Types
B/D; Depo; Exch
Reference
Cir OTCO/013/2024, 8/30/2024
Functions
Compliance; Financial; Operations; Outsourcing; Record Retention; Settlement; Trading
