Hong Kong Exchanges and Clearing Limited (HKEX) has reported a record-breaking performance in its fixed income and currency markets for the first half of 2026. The total notional amount cleared for cross-currency swaps (CCS) through its subsidiary, OTC Clear, reached USD 82.5 billion, marking an all-time high for any corresponding six-month period.

This milestone underscores the deepening adoption of central clearing services in the CCS market, alongside a notable increase in market participation. The surge in activity reflects growing confidence in the exchange's infrastructure and the broader appeal of its clearing solutions.

To further bolster market development and enhance the efficiency and flexibility of risk management, OTC Clear has introduced five enhancements to its foreign exchange clearing services. Among these, four have already been successfully implemented during the first half of the year. These include the optimisation of collateral management arrangements to improve member efficiency, the enhancement of principal exchange risk limits to accommodate growing transaction volumes, the revision of foreign exchange margin calculation scenarios for better coverage levels, and the upgrade of multi-lateral compression services for cross-currency swaps to boost capital and operational efficiency.

The fifth measure, slated for launch later this year, aims to broaden access channels for market participants by introducing a new Approved Trade Recording System (ATRS). This initiative will extend the clearing services for deliverable foreign exchange contracts (DFX), thereby expanding connectivity and inclusion across the market ecosystem.

These strategic improvements underscore HKEX's commitment to advancing its fixed income and currency business. The measures are designed to cultivate a deeper and more interconnected market environment, while further solidifying Hong Kong's position as a premier global hub for fixed income and currency activities.