PANews reported on November 6 that according to Ledger Insights, the Hong Kong Exchanges and Clearing (HKEX) announced plans to launch a network platform based on distributed ledger technology (DLT) and smart contracts in 2025 to automate the issuance and redemption process of exchange-traded products (ETPs). The plan is still subject to regulatory approval. Since 2020, the Hong Kong ETP market has grown at an average annual rate of 29%, with an average daily turnover of HK$17.9 billion (about US$2.3 billion) this year.