It is hoped that through the agreement, SSE market information users outside the Mainland (including Hong Kong, Macau, and Taiwan) will be able to obtain more Shenzhen market information on a timely basis. HKEx-IS and SSIC are committed to developing more SSE market information users and to providing more value-added information.
Both sides are confident the cooperation will achieve substantial progress in user development and upgrade service standards. Both see the agreement as an answer to the development potential of the Mainland securities market and the recent growth of overseas demand for Mainland securities market information. The agreement also represents another step forward in information cooperation between the two markets.
Kwong Ki-chi, HKEx's Chief Executive, said: "Mainland business has always been an important part of HKEx's business. In the past, our work was focused on corporate financing and share transactions, but the growth and internationalisation of the Mainland capital market has increased our business opportunities. This agreement with the SSIC on information matters has opened up a new dimension in our Mainland business"
"Given our wealth of experience in the provision of securities market information and our long-established international business network, we are confident we can provide quality agency service through the accurate and speedy delivery of Shenzhen securities market information to users with a view to adding value to the service," Mr Kwong added.
Zhang Yujun, President of Shenzhen Stock Exchange, said: "Shenzhen is an emerging market facing new challenges in information processing and management. This agreement represents cooperation between two exchanges. Our close ties with HKEx were manifested last year when we signed an agreement of cooperation on the "China Stock Markets Web" with HKEx and the Shanghai Stock Exchange. Today's agreement is significant. It has the advantage of being concluded by two markets physically near to each other. I trust that it will further stimulate communications and cooperation between HKEx and the SSE."
About SSIC
As a subsidiary of the SSE and its sole authorised agent, SSIC manages all SSE exclusive information and acts on its behalf in concluding exclusive information usage agreements with SSE market information users and disseminators inside and outside the Mainland.
About HKEx-IS
HKEx-IS, a wholly-owned subsidiary of HKEx, mainly promotes and distributes HKEx's electronic information services.
