One of the HKMA's key policy objectives is to enhance the efficiency, integrity and development of Hong Kong's financial infrastructure, particularly payment and settlement arrangements. An efficient and robust financial infrastructure is essential to Hong Kong's functioning as an international financial centre. The long-term aim is for Hong Kong to be a leading centre of financial intermediation, where all types of financial transactions, initiated from whatever location or time zone and in whatever currency, whether at the wholesale or retail level, can be executed and settled in real time.