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Nicolas Aguzin, Chief Executive Officer said:
“This has been a productive quarter for HKEX with a number of potentially significant strategic initiatives announced or going live. These include the addition of ETFs in Stock Connect, the announcement of the next phase in the Connect franchise – Swap Connect, the establishment of the Hong Kong International Carbon Market Council and a number of new product launches and market enhancements. These are all further exciting building blocks, as we shape the long term sustainable and successful future of our business and our markets. Despite continued global market fragility, a rising interest rate environment, inflationary pressures and ongoing geopolitical tensions, we are also today pleased to report a resilient set of quarterly results. Our numbers are down on record comparables and we continue to see softness in our Cash Market. However, there are early signs of renewed momentum in the IPO market, a buoyant Derivatives Market and continued strength in both Stock Connect and Bond Connect. We are positioned well for when market sentiment recovers. Looking forward we will continue to invest in talent and technology, whilst still actively and prudently managing our cost base; and we will drive both excellence in execution and delivery as we remain fully focused on our vision to build the Marketplace of the Future.”
Strategic Highlights
- ADV of derivatives contracts traded on HKFE and during After-Hours Trading both reached record nine-month highs
- Bond Connect Northbound ADT reached a record nine-month high
- ETFs were included into Stock Connect, initially with four eligible Southbound ETFs and 83 eligible Northbound ETFs
- Stock Connect trading calendar enhancements announced, facilitating trading on all days where both the Hong Kong and Mainland markets are open
- IR Connect launched
- Hong Kong International Carbon Market Council launched
- Swap Connect, a new mutual access programme between Hong Kong and Mainland China’s interbank interest rate swap markets, was announced
- IPO market showed signs of recovery in Q3 2022, with IPO funds raised more than double that from 1H 2022; IPO pipeline remained strong, with 144 active applications including three special purpose acquisition companies (SPACs) as at 30 September 2022
- Introduced seven new ETPs, including the first green bond ETF
- MSCI A 50 Connect Index Derivative Warrants listed, Hong Kong’s first A-share structured products
- Weekly OTC position reporting framework introduced by LME for all physically delivered metals; accountability levels extended to all reportable OTC positions
- HKEX ESG Academy updated on the Corporate Governance Code; HKEX Biotech Summit 2022 explored latest developments shaping the global healthcare industry
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