Infrastructure
The Central Money Markets Unit (CMU), established in the 1990, provide computerised clearing and settlement facilities for Exchange Fund Bills and Notes. It extended the service to other Hong Kong dollar debt securities in late 1993. A seamless interface allow the co-existence of the CMU and the newly launched Real Time Gross Settlement (RTGS) inter-bank payment system. This enables end-of-day "Delivery Versus Payment" services as opposed to Non-DVP.
Read more about this topic: Hong Kong Monetary Authority