Photo: VCG

The Hong Kong Exchanges and Clearings (HKEX) announced on Tuesday that it will include delivery versus payment services in yuan, Hong Kong dollars and US dollars in the Shenzhen–Hong Kong Stock Connect and Shanghai-Hong Kong Stock Connect programs starting November 20.

The new service will be used by institutional investors, according to the announcement.

Delivery versus payment (DVP) is a settlement system wherein a cash payment must be made prior to or simultaneously with the delivery of the security.

First launched in November 2014, the northbound trading now covers a total of over 2,400 eligible equities, including 900 in Shanghai, 1,000 in Shenzhen and 500 in Hong Kong, according to a statement on the HKEX website.