In a global first, Hong Kong opens secondary trading for tokenised public funds

Hong Kong’s new approval allows for 24/7 trading of tokenised money market funds, specifically the ChinaAMC Digital Money Market Fund’s HKD and USD versions. This marks a departure from typical fund trading hours, which are generally restricted to standard business days and times. The change means investors can now access these funds continuously, even on weekends and public holidays.

According to Katie He, head of strategic business at China Asset Management (Hong Kong), this offers retail investors a "vital upgrade in time sovereignty over fund management." The ability to trade at any hour could allow investors greater flexibility in managing their liquidity or reacting to market developments outside of conventional trading periods.

However, the practical advantages of this round-the-clock access also depend on factors not detailed in the reporting. These include the actual settlement times for transactions, the liquidity depth available during off-peak hours, and any associated costs. For money market funds, which are often used for capital preservation and ready access to funds, these operational details are key to assessing the full utility of 24/7 trading.