1 / 11

Hong Kong Exchanges and Clearing Limited Year-end Review 20 December 2001

Hong Kong Exchanges and Clearing Limited Year-end Review 20 December 2001. 2001 Market Highlights. (As of 14 December) Funds raised HK$57.7 bil Main Board: HK$53.1 bil GEM: HK$4.6 bil Funds raised by IPOs HK$23.8 bil Main Board: HK$20.5 bil GEM: HK$3.3 bil

galen
Download Presentation

Hong Kong Exchanges and Clearing Limited Year-end Review 20 December 2001

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Hong Kong Exchanges and Clearing Limited Year-end Review 20 December 2001

  2. 2001 Market Highlights (As of 14 December) Funds raisedHK$57.7 bil Main Board: HK$53.1 bil GEM: HK$4.6 bil Funds raised by IPOs HK$23.8 bil Main Board: HK$20.5 bil GEM: HK$3.3 bil Funds raised in the secondary market HK$33.9 bil Funds raised in H-shares and red-chipsHK$24.4 bil markets New listings 80 (Main Board: 30; GEM: 50) Expected at year-end: 89 (Main Board: 31; GEM: 58)

  3. 2001 Milestones - Announced the policy on granting waiver to issuers for distributing two language versions of annual and interim reports - Commencement of trading of regional exchange traded funds - Launched MSCI China Free Index Futures contracts - New Main Board listing rules requirement for website posting of listed issuers' announcements together with issuance of paid ad took effect - Hosted Asia-Pacific regional meeting of ISSA in Hong Kong - Announced the guidelines for issuers with negative or negligible net tangible assets - Signed MOU with Shanghai and Shenzhen stock exchanges on the development of a China securities market database - Signed MOU with the Stock Exchange of Thailand on sharing of regulatory information - Consulted market on derivative warrants rules January May February March June April - Launched ORS and implemented new order types and revised trading parameters for AMS/3 - Signed MOU with the SFC on oversight, supervision of Exchange Participants and market surveillance - GEM Conference at Beijing’s Zhongguancun Science Park - Allowed Main Board companies with primary listings and applicants to adopt International Accounting Standards, and allowed Main Board overseas-incorporated companies with secondary listings and applicants to adopt US GAAP - GEM Conference in Shanghai - Debut of HKEx quarterly newsletter Exchange - Debut of HKEx quarterly newsletter Exchange - Launched ORS and implemented new order types and revised trading parameters for AMS/3 - Signed MOU with the SFC on oversight, supervision of Exchange Participants and market surveillance - Commencement of trading of regional exchange traded funds - Launched MSCI China Free Index Futures contracts - New Main Board listing rules requirement for website posting of listed issuers' announcements together with issuance of paid ad took effect - Hosted Asia-Pacific regional meeting of ISSA in Hong Kong - Announced the guidelines for issuers with negative or negligible net tangible assets - Signed MOU with Shanghai and Shenzhen stock exchanges on the development of a China securities market database - Signed MOU with the Stock Exchange of Thailand on sharing of regulatory information - Consulted market on derivative warrants rules - Announced the policy on granting waiver to issuers for distributing two language versions of annual and interim reports - GEM Conference at Beijing’s Zhongguancun Science Park - Allowed Main Board companies with primary listings and applicants to adopt International Accounting Standards, and allowed Main Board overseas-incorporated companies with secondary listings and applicants to adopt US GAAP - GEM Conference in Shanghai

  4. 2001 Milestones - Migrated stock options trading to HKATS - Launched remote trading access programme for HKATS (GL Trade in August and Radianz in November) - Introduced Block Trading Facility - Launched International Stock Futures and Options - Received Asia Risk magazine award for derivatives exchange of the year - Launched three-year EFN Futures contracts - Launched China Stock Markets Web with Shanghai and Shenzhen stock exchanges - Signed MOU with Luxemburg Stock Exchange on sharing of regulatory information - HKEx accredited by the SFC to offer continuous professional training to industry professionals - Hosted Futures & Options World Conference - GEM Conference in Chongqing during Chongqing-Hong Kong week August October November July September December - Standardised stock futures and options contract specifications and introduced more local stock options - Joint announcement with the SFC on the amendments to the GEM Listing Rules - GEM Conference with Sichuan Provincial Government in Chengdu - Consulted market on extended trading hours - Tick rule exemption on index arbitrage and market making transactions took effect - New rules and market making mechanism for derivative warrants took effect - Signed MOU with Kuala Lumpur Stock Exchange on sharing of regulatory information - Became the 1st HK listed company assigned a corporate governance score - Announced the introduction of index basket order and pre-opening session - Consulted market on extended trading hours - Introduced Block Trading Facility - Launched International Stock Futures and Options - Received Asia Risk magazine award for derivatives exchange of the year - Tick rule exemption on index arbitrage and market making transactions took effect - New rules and market making mechanism for derivative warrants took effect - Signed MOU with Kuala Lumpur Stock Exchange on sharing of regulatory information - Became the 1st HK listed company assigned a corporate governance score - Announced the introduction of index basket order and pre-opening session - Standardised stock futures and options contract specifications and introduced more local stock options - Joint announcement with the SFC on the amendments to the GEM Listing Rules - GEM Conference with Sichuan Provincial Government in Chengdu - Launched three-year EFN Futures contracts - Launched China Stock Markets Web with Shanghai and Shenzhen stock exchanges - Signed MOU with Luxemburg Stock Exchange on sharing of regulatory information - HKEx accredited by the SFC to offer continuous professional training to industry professionals - Hosted Futures & Options World Conference - GEM Conference in Chongqing during Chongqing-Hong Kong week - Migrated stock options trading to HKATS - Launched remote trading access programme for HKATS (GL Trade in August and Radianz in November)

  5. Looking AheadMarket Development • Introduce pre-market opening and basket orders in Cash Market • Introduce extended trading hours in Cash and Derivatives markets • Launch remote trading access for Cash Market • Review the current board lot system

  6. Looking AheadMarket Development (cont’d) • Consult market on Listing Rules related to corporate governance • Complete review of Main Board and GEM Listing Rules • Evaluate dissemination arrangements for Main Board listed companies’ announcements • Review delisting procedures

  7. Looking AheadMarket Development (cont’d) • Evaluate operation of Phase 1 derivative warrants rule changes • Review rules for listing of foreign issues • Further roll-out Derivatives Market’s Remote Trading Access programme • Consolidation of clearing houses

  8. Looking AheadMarket Infrastructure • Activate AMS/3 market making functions • Implement scheduled upgrades and enhancements to HKATS • Launch CCASS/3 and DCASS • Launch e-Submission system • Work towards scripless securities market

  9. Looking AheadProduct and Services • Introduce more international and regional benchmark financial products • Introduce Equity Linked Notes (ELN) • Launch Brokers’ Electronic Support Services (BESS) • Evaluate third party clearing for the cash market

  10. Looking AheadChina and International Development Strategy • Further develop ties with Mainland exchanges • Further develop business network and continue promotional and educational activities on Mainland • Further explore alliances with other exchanges

  11. Thank you

More Related