SFC: Main services of the Integrated Fund Platform fully operational, helping to consolidate Hong Kong's position as a leading global wealth management center

On October 28, the Securities and Futures Commission (SFC) issued a statement welcoming HKEX's launch of platform and agent services on the Integrated Fund Platform. The launch of these services marks a key milestone in the development of the Integrated Fund Platform and significantly broadens its scope of services. The new services will help fund managers and distributors streamline operational processes and promote broader participation by all parties across the fund distribution value chain. Starting today, distributors, including brokerage firms, can subscribe for and redeem funds on the platform on behalf of their clients. Ms Christina Choi, Executive Director of Investment Products at the SFC, said: "With the launch of the platform and agent services, all main services of the Integrated Fund Platform are now fully operational, marking the achievement of an important goal for the platform. The platform is expected to create substantive value by enhancing market efficiency and facilitating new fund distribution partnerships. We look forward to continued industry participation in the platform. Widespread adoption of the platform will help build its scale to fully unleash its potential and create maximum value for market participants." Ms Choi continued: "In the long run, the Integrated Fund Platform is also expected to expand fund distribution channels, enabling broader investor participation in Hong Kong's fund market. This will help attract more diversified and sustained local and cross-border capital, and consolidate Hong Kong's position as a leading global wealth management center." It is understood that the Integrated Fund Platform is comprehensive market infrastructure designed specifically for retail fund distribution in Hong Kong, connecting fund managers, transfer agents, distributors and other participants through standardized workflows and information exchange. It is one of the government's measures to leverage fintech for the benefit of the real economy in Hong Kong, first announced on November 2, 2023. The Integrated Fund Platform operates on a business-to-business basis and is being rolled out in phases.