Clearing and Settlement - CMU OmniClear

The CMU provides a centralised and secure platform for investors to accurately, safely, and efficiently clear and settle domestic and foreign debt securities. The real-time Delivery-versus-Payment (DvP) capability enables accurate, secure, and efficient settlement services, all within a secure circle of trust and efficiency, empowering investors to navigate global bond markets with ease and confidence.

Key Features

Real-Time DvP Capability for CMU securities denominated in multiple currencies, ensuring efficiency and mitigating settlement risks.
Cross-Border DvP Settlement via linkages with regional CSDs and ICSDs, unifying global bond markets into a dynamic circle of opportunities.

A seamless interface exists with the Hong Kong dollar, US dollar, Euro, and Renminbi Real-Time Gross Settlement systems (HKD CHATS, USD CHATS, EUR CHATS, and RMB CHATS) in Hong Kong to facilitate DvP settlement. Securities are settled in real-time (BIS Model 1) mode, ensuring buyers and sellers receive securities and cash respectively on a real-time basis on the settlement date.

Settlement Currencies

Hong Kong Dollar (HKD)
US Dollar (USD)
Euro (EUR)
Renminbi (CNY)

Cross-currency settlement is also supported where the settlement currency is different from the denomination currency of the securities, providing greater flexibility to CMU Members and investors.

Settlement Finality

The settlement of transactions made through the CMU system is final and irrevocable. This finality is protected from insolvency laws by the Payment Systems and Stored Value Facilities Ordinance (PSSVFO).

Related Information

Part II of the CMU Reference Manual on the Reference Materials page
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