The hottest Hong Kong Stock Exchange discusses how

2022-10-24
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Hong Kong Stock Exchange: discuss how financial technologies such as blockchain and artificial intelligence affect the global exchange market

[Hong Kong Stock Exchange: discuss how financial technologies such as blockchain and artificial intelligence affect the global exchange market] the chief China economist office and Innovation Laboratory of Hong Kong Stock Exchange released the Research Report "the application and regulatory framework of financial technology", It discusses how financial technologies such as blockchain and artificial intelligence affect the global exchange market. According to the summary of the research report, in the new era of financial technology development, major exchanges around the world are actively exploring how to apply financial technology to improve systems and services. However, from the perspective of the maturity of existing technology development, most of the financial technology is mainly used in the banking industry, Internet Finance and digital currency, less involved in the application in the securities industry, and less able to give a landing plan in combination with the specific securities business model. It is generally believed that artificial intelligence technologies such as blockchain technology and intelligent investment advisers are most likely to be applied at the exchange level. (HKEx officer)

the office of the chief Chinese economist and the innovation laboratory released a discussion on how financial technologies such as blockchain and artificial intelligence affect the global exchange market

the office of the chief Chinese economist and the Innovation Laboratory of the Hong Kong Stock Exchange released a research report, "the application and regulatory framework of financial technology", to explore how financial technologies such as blockchain and artificial intelligence affect the global exchange market

According to the summary of the Research Report on rust prevention, in the new era of financial technology development, major exchanges around the world are actively exploring how to apply financial technology to improve systems and services. However, from the perspective of the maturity of the existing technology for dealing with the displacement system fault of the technical tensile testing machine, most of the financial technology is mainly used in industry, Internet Finance and digital currency, less involved in the application in the securities industry, and less able to give a landing plan in combination with the specific securities business model. It is generally believed that artificial intelligence technologies such as blockchain technology and intelligent investment advisers are most likely to be applied at the exchange level

this report focuses on the combination of blockchain and artificial intelligence technologies with the securities industry, and explores how these new technologies can be combined with the investment, trading, settlement, regulatory and other industries of the securities industry. We plan to postpone the second stage of Taxation to at least January 2015, so as to find a specific application mode for financial technology in the capital market Operational cases to illustrate the impact and significance of financial technology on capital markets and securities trading

the article mainly introduces the application of blockchain technology in the field of transaction settlement, the application of asset re mortgage business and private equity market, and the application of artificial intelligence technology in the field of intelligent investment research and intelligent investment consulting. Each case will also compare the advantages and disadvantages of the new technology with the traditional business model, as well as the difficulties and challenges that may be faced by the application of the new technology. It should be noted that AI technologies such as intelligent investment advisers and investment research are currently the key content of regulatory "sandbox" testing in various countries. Some countries' securities regulators (such as South Korea) have specially designed a test environment for this. Learning from the practices of other countries may be the next step for the Hong Kong market

the report also specifically discusses the principles and tools that need attention in establishing a financial technology regulatory framework. As an emerging industry, the business model based on fintech continues to develop and become more and more complex. To some extent, the application of financial technology may not help reduce the inherent risks in the financial system, but may magnify or expose new forms of financial risks. Therefore, as a regulator, we should consider how to apply fintech financial innovation to the securities industry under an appropriate regulatory framework

"regulatory sandbox" is a powerful tool for testing financial technology. At present, some countries in the world have conducted "sandbox" tests to varying degrees on the technologies of various fintech sub projects sampled on large workpieces. In order to minimize the possible negative impact of the application of new technologies in a controllable way, regulators can use the "regulatory sandbox" to provide a relatively loose regulatory pilot environment. After eliminating and solving the risks and problems that may be encountered in the test, it ensures the interests of customers and the smooth operation of the financial system, and then extends fintech to a wider range

the report also discusses the principles based on regulatory consistency. The principle of regulatory consistency means that as long as they are engaged in financial businesses of the same nature, they will be subject to the same regulation. Financial services provided in both virtual and real environments are governed by the same legal framework to ensure fair competition and prevent regulatory arbitrage. At the same time, the regulatory framework should also be constantly innovated according to the development of the situation to deal with possible regulatory loopholes in fintech

the final report discusses the feasibility of using big data, deep learning and knowledge map to establish an effective technical supervision system. Regulators must establish an effective technical supervision system (regtech), and use big data and artificial intelligence analysis to strengthen the macro analysis of financial institutions and the ability to track system risks, so as to better monitor and prevent systemic financial risks

(source: HKEx officials)

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