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HKEx to open office in Singapore
HONG Kong Exchanges and Clearing Ltd (HKEx) will be opening an office in Singapore to better serve its clients and expand its reach to potential clients.
The office - to be located at Raffles Place - will be the first overseas office of The Stock Exchange of Hong Kong (SEHK) and The Hong Kong Futures Exchange.
"The Belt and Road initiative and financial technology present tremendous growth opportunities for Asia," HKEx chief executive officer Charles Li said on Wednesday. "We want to work with partners in our region to make the pie bigger for everyone. Asia has the world's most dynamic economy now, so there's great potential for us to succeed together."
Mr Li said the Singapore office is another step in HKEx's plans to develop its market "as a unique platform for cross-border access by international and Chinese investors", offering a range of products across three asset classes - equities, commodities and fixed income and currency.
Mr Li said HKEx aspires to be the global exchange of choice across asset classes both for Chinese clients and international clients seeking China exposure. "For investors interested in mainland China's equity and fixed income markets, we offer easy, direct access through our Stock and Bond Connect programmes."
Trading by individuals and institutions from overseas account for more than 40 per cent of SEHK's turnover, with Singapore alone providing more than 8 per cent of the international share.