HK (pronounced “hahk”) stands for Hong Kong, a former British crown colony and current special administrative region of the People’s Republic of China. It is also the abbreviation for the Hong Kong Data Exchange, a new platform that will streamline the way businesses share and exchange financial data in Hong Kong.

The HK MAX platform is a key element of the Hong Kong Data Infrastructure (“CDI”) project, which will improve data sharing within Hong Kong and between other regions of Asia. The CDI will replace a patchwork of one-to-one connections between banks and sources of commercial data with a single, secure, scalable and low-latency link to shared databases.

Successful data governance programs involve a lot of people — stakeholders, subject matter experts and IT team members alike. Identifying and deploying the right roles is critical to the success of your program. Consider a responsibility assignment matrix, such as the RACI model (responsible, accountable, consulted and informed). This will help organize the program so that each person understands how his or her role contributes to the overall success of the initiative. An experienced project manager is a good choice to lead your program and manage tasks, schedules, communications and resource allocation. They can also be a point of escalation to the program’s executive sponsor and steering committee if necessary.