Yes, - the STeX EXCHANGE Hedge Fund feature will be something similiar to Covesting, and will be working directly on the exchange, and should be up and running by september/october all though there is no official schedule on that yet.
it won't be identical to Covesting obviously? for example STeX EXCHANGE will also have Margin trading.
Covesting may also get Margin trading in the future apparantly. they're not ruling it out. let's see how that works out.