HKEx to start OTC clearing in April

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Hong Kong Exchanges and Clearing (HKEx) will begin clearing over-the-counter derivatives in April this year when it will sell a 25% stake in the venture to 12 international and mainland Chinese banks, according to Romnesh Lamba, executive vice-president and co-head of the firm's global markets division. The Hong Kong bourse is positioning itself to take advantage of rapid developments on the mainland, where interest rate and exchange rate liberalisation is edging closer. Such moves will neces

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