The new cross-border payment-versus-payment (PvP) link between Hong Kong’s US Dollar real time gross settlement (RTGS) system and Malaysia’s Ringgit RTGS system has been launched on 13 November 2006. The link will eliminate settlement risk in foreign exchange transactions between the US Dollars and Malaysian Ringgit by ensuring the simultaneous delivery of US Dollars in Hong Kong and Ringgit in Malaysia. This is the first cross-border PvP link established in Asia.

The link is operated in Malaysia by Bank Negara Malaysia and in Hong Kong by Hong Kong Interbank Clearing Limited, which operates the interbank clearing systems in Hong Kong, and is jointly and equally owned by the HKMA and the Hong Kong Association of Banks. ( HKMA )

• Hong Kong and Malaysia Launch a New Cross-border Delivery-versus-payment Link
• Hong Kong and Indonesia Launch New Cross-border PvP Link
• Hong Kong Banking Community Chooses SWIFTNet
• SWIFTNet Goes Live in Hong Kong for High-value Payments
• Multi-currency Cross-border Payment Arrangements between the Mainland and Hong Kong
• HSBC Joins Hong Kong’s Euro Clearing System
• New Credit Card Bulk Settlement Service For Hong Kong Dollar
• HKMA re-appoints SCBHK as Settlement Institution for the Euro clearing system in Hong Kong