The Hong Kong Gold Exchange (HKGX) and TGX Technology have launched a joint venture to build a “secure, stable and internationally competitive” gold trading and clearing platform, as the city pushes to become a gold trading hub.
Hong Kong Gold Exchange Trading System (HKGXTS) would draw on technology partners, including Alibaba Cloud – which backs TGX Technology – and Hundsun Technologies, to deliver the platform, according to a statement issued on Tuesday. Alibaba owns the South China Morning Post.
The establishment “represents an important step forward in enhancing Hong Kong’s gold trading infrastructure”, said HKGXTS chairman Haywood Cheung, who is also the chairman of HKGX, in the statement.
The new system was expected to commence pilot operations in the first quarter of 2027.
Built on physical gold delivery capabilities, HKGXTS seeks to establish a multi-tier bullion trading and investment platform
The platform’s first phase will integrate HKGX’s existing products, trading and settlement and clearing services into a single, unified system, with additional digital offerings, including support for gold tokenisation, to follow later.