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.
Nov. 2024 Revised Schedule
On Nov. 21, 2024, HKEX postponed rollout date for upgraded sFTP service to Dec. 23.
Concurrent availability of existing, upgraded sFTP services is revised from original period of Dec. 9 to Jan. 24, 2025, to new period of Dec. 23, 2024 to Feb. 14, 2025.
Existing sFTP infrastructure will become obsolete after Feb. 14, 2025, CMs, CBs, SSMs must ensure successful retrieval of OCASS reports using updated setup beforehand.
CMs, CBs, SSMs are required to submit production sFTP keys to OTC clear operations team by Dec. 16, 2024 to ensure seamless integration with upgraded service.
Previously announced optional backup site connectivity test sessions will proceed as scheduled on Jan. 11, 2025 and Jan. 18, 2025, with further details to be provided.
