Improvements to the listing regime, an expansion of the Connect scheme, new products and enhanced platforms are the four themes of Hong Kong Exchanges and Clearing Limited’s (HKEX) key initiatives in 2017, according to a presentation by Chief Executive Charles Li at the bourse operator’s annual media lunch.
The four themes are a continuation of HKEX’s Strategic Plan 2016-2018, which was released in January 2016.
The plan comes after volatility around the world in 2016, in which HKEX continued to lay the groundwork for HKEX to become a resilient multi-asset class exchange provider with the launch of new products and Shenzhen-Hong Kong Stock Connect.
HKEX Chief Executive Charles Li
We remain focused on our long-term vision to transform HKEX into a multi-asset class exchange group and Hong Kong into a global asset management centre connecting China with the world,” said Mr Li.
Two of our most important projects in years, Shanghai and Shenzhen Connect, are now up and running. Some of the seeds we planted a few years ago in equity and FIC (fixed income and currency) derivatives have also already started to bear fruit. Trading in our USD/CNH Futures contract, for example, more than doubled in 2016, making it the world’s largest exchange-traded Renminbi futures contract. Total futures trading was up 14 per cent, while our After-Hours Futures Trading increased by 75 per cent compared to 2015. In addition to their long-term value, the success of our derivatives products helped our short-term financial performance in 2016, when our cash market had a challenging year.
But we have a long way to go, especially amid global economic uncertainty. In 2017, we will continue to push our growth initiatives across the board and will not be deterred by short-term market volatility and a subdued trading environment,” Mr Li added. “Our success requires patience, perseverance and long-term commitment. Over time, I am confident that the foundation we are building will make HKEX a stronger and more resilient global exchange leader and will help further strengthen the role of Hong Kong as an international financial centre.