Operator of local bourse will seek to refine listing regime, expand connect scheme and introduce new products
The key focuses in 2017 for Hong Kong Exchanges and Clearing Limited (HKEX) will be improvements to the listing regime, an expansion of the connect scheme, new products, and enhanced platforms, according to Charles Li, chief executive of HKEX, at its annual media luncheon on Thursday.
Li said that the bourse operator in recent years has been expanding its asset class from cash equity to a broader range including commodities and fixed income as well as currencies, creating mutual market access channels, enhancing market microstructure and efficiency, and continuing to build and upgrade systems and platforms.
Especially this year, according to Li, they will endeavor to work on setting up a new board to strengthen the competiveness of the Hong Kong financial market and continue consulting with the market including on a dual shareholding structure which has been debated for two years. He added that “the new board consultation should happen and include ever ything”, while no timetable for the consultation paper has been confirmed.
Regarding the connect program, the second stock connect between Shenzhen and Hong Kong stock marke ts was launched on Dec 5 last year and the market has been expecting the next extensions.
Li elaborated that they are currently working with mainland counterparts to include exchange-traded funds under the scheme. Moreover, the next step would also be to connect primary new share listings and bonds, as well as commodities in the mutual market.
“The new era now is that mainland investors are seeking international asset diversifications.” He said that HKEX is planning to introduce more