China Exchanges Services Company Limited (CESC) plans to expand its business beyond Hong Kong by promoting its indices to product issuers overseas after building a solid foundation since its launch in September 2012.
CESC is holding a reception today (Tuesday) to thank market participants for their support during its first year. Hong Kong’s Secretary for Financial Services and the Treasury, Professor K C Chan is the guest of honour. Hong Kong Exchanges and Clearing Limited (HKEx) Chairman C K Chow and Chief Executive Charles Li as well as representatives of CESC's other two shareholders – Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) – are also attending.
"We hope more issuers will offer products on CESC indices," Bryan Chan, CESC Chief Executive, said. "We will visit Singapore, London and major cities in the US in the near future to enhance the recognition of our indices overseas."
CESC visited the Mainland, Taiwan and South Korea previously.
In April, CESC granted its first index licences to three fund managers. The licences permit the fund managers to develop products on CESC’s indices. So far, two of the fund managers have each issued an Exchange Traded Fund, or ETF, on the CES China A80 Index. In August, HKEx introduced a futures contract on the CES China 120 index.
CESC has accomplished a number of business goals in its first year. They include launching the CESC Cross Border Index Series currently comprised of three indices: CES China 120 Index (tracks 120 Mainland enterprises listed at home and/or in Hong Kong), CES China A80 Index (tracks 80 large companies listed on the Mainland) and the CES China HK Mainland Index (tracks 40 Mainland enterprises listed in Hong Kong).
FTSE Mondo Visione Exchanges Index:
China Exchanges Services Company To Reach Out To Overseas
Date 24/09/2013