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Bay Link Ltd plans to earn fees in Hong Kong by arranging interbank deposit and foreign exchange deals between banks. What does it need before acting as a money broker?
The HKMA is responsible for approving and supervising money brokers operating in the interbank foreign exchange and deposit markets. Any person must be approved by the Monetary Authority before acting as a money broker, meaning a person who for reward negotiates, arranges or facilitates such agreements between others; s.118C of the Banking Ordinance (Cap. 155) lets the Monetary Authority approve or refuse an application. A Type 1 licence covers dealing in securities, not interbank deposits. HKAB is a trade body of licensed banks, and the policy bureau does not register market firms. Source: Banking Ordinance (Cap. 155) s.118C; HKMA, Money Brokers (hkma.gov.hk) (as at October 2026).
Sending every intermediary to the SFC. Interbank money broking is approved by the Monetary Authority.
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