Hong Kong Exchanges and Clearing

Hong Kong Exchanges and Clearing Limited (HKEx; Chinese: 香港交易及結算所有限公司, also 香港交易所 or 港交所 ) operates a stock market and futures market in Hong Kong through its wholly owned subsidiaries The Stock Exchange of Hong Kong Limited (SEHK) and Hong Kong Futures Exchange Limited (HKFE).

The Group also operates four clearing houses in Hong Kong: Hong Kong Securities Clearing Company Limited (HKSCC), HKFE Clearing Corporation Limited (HKCC), the SEHK Options Clearing House Limited (SEOCH) and OTC Clearing Hong Kong Limited (OTC Clear). HKSCC, HKCC and SEOCH provide integrated clearing, settlement, depository and nominee activities to their participants, while OTC Clear provides OTC interest rate derivatives and non-deliverable forwards clearing and settlement services to its members.

HKEx provides market data through its data dissemination entity, HKEx Information Services Limited. HKEx also owns the London Metal Exchange, which has a dominant global position in base metals trading. With a total market capitalisation of over US$3.9 trillion as of 10 April 2015, one of the largest exchanges in the world by market capitalisation of listed companies (see List of stock exchanges for complete rankings). As of the end of March 2015, there were 1,775 companies listed on HKEx's securities market.

Shanghai-Hong Kong Stock Connect

Shanghai-Hong Kong Stock Connect (simplified Chinese: 沪港通; traditional Chinese: 滬港通) is a cross-boundary investment channel that connects the Shanghai Stock Exchange and the Hong Kong Stock Exchange. Under the program, investors in each market are able to trade shares on the other market using their local brokers and clearing houses. Chinese Premier Li Keqiang announced the programme on 10 April 2014. The scheme launched on 17 November 2014.

History

Mutual market access was raised as early as January 2013 when Charles Li, the chief executive of HKEx, announced it as an objective in the bourse’s three-year strategic plan. It was finally formally announced by Chinese Premier Li Keqiang at the Boao Forum in the Chinese province of Hainan on April 10, 2014. Premier Li said the move aims to promote two-way opening-up and healthy development of the capital market on the mainland and Hong Kong. "We will carry out a new round of opening-up at a high level," Li said, adding that an important part of this endeavor is to further open up the service sector, including the capital market.