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November 18, 2024. HONG KONG.
Hong Kong Exchanges and Clearing Limited (HKEX) today (Monday) welcomed over 400 distinguished guests at HKEX Connect Hall to commemorate the 10th anniversary of Connect, the landmark mutual access programme that has transformed the region’s financial markets and facilitated two-way capital flows between Mainland China and the world.
Hong Kong Exchanges and Clearing Limited (HKEX) today (Monday) welcomed over 400 distinguished guests at HKEX Connect Hall to commemorate the 10th anniversary of Connect, the landmark mutual access programme that has transformed the region’s financial markets and facilitated two-way capital flows between Mainland China and the world.
At the first-ever HKEX Connect Summit, HKEX Chairman Carlson Tong and Chief Executive Officer Bonnie Y Chan hosted a celebration ceremony alongside guests of honour that included Acting Hong Kong Chief Executive Eric Chan, Financial Secretary Paul Chan, China Securities Regulatory Commission Vice Chairman Li Ming, the Director-General of the Economic Affairs Department of the Liaison Office of the Central People's Government in the HKSAR Xu Weigang, Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the PRC in the HKSAR Li Yongsheng, Securities and Futures Commission Chairman Kelvin Wong, Hong Kong Monetary Authority Chief Executive Eddie Yue, Shanghai Stock Exchange President Cai Jianchun, Shenzhen Stock Exchange President Li Jizun, and China Securities Depository and Clearing Corporation Chairman Yu Wenqiang.
The event was also attended by other officials, regulators and distinguished guests from the financial community in Hong Kong and Mainland China. These individuals played a crucial role in driving the success of the programme, which began in 2014 with Stock Connect, a trading link between HKEX and the Shanghai Stock Exchange (SSE) that was expanded two years later to also include the Shenzhen Stock Exchange (SZSE). This initiative kickstarted a decade of market connectivity, cementing Hong Kong’s role as a global superconnector.
HKEX Chairman, Carlson Tong, said: “Today we celebrate a milestone that marks a decade of collaboration between HKEX, Mainland exchanges, regulators, clearing houses, and market participants from around the globe. Over the past 10 years, our partnership has not only helped strengthen our market infrastructure, but also created new opportunities and facilitated a remarkable surge in two-way capital flows. I am honoured to have played an active role in the launch of the Connect programme back in 2014, and I look forward to the continued collaboration and innovation with our partners in the next 10 years and beyond.”
HKEX Chief Executive Officer, Bonnie Y Chan, said: “Over the past decade, the Connect programme has pioneered greater accessibility and provided unprecedented opportunities for international investors interested in the world's second-largest economy, and for Mainland China investors seeking to diversify their portfolios through Hong Kong, fostering greater liquidity and diversity in our markets. It has evolved beyond equities to include bonds, ETFs and interest rate swaps.
From these to the recent record volumes in turnover, the Connect story is much more than just an investment channel. It is a story of continuous breakthroughs, innovations and enhancements. The future holds immense potential, and we at HKEX are committed to working alongside our regulators, our partners and market participants, to take the Connect story to even greater heights.”
Since the launch of Shanghai-Hong Kong Stock Connect on 17 November 2014, and Shenzhen-Hong Kong Stock Connect on 5 December 2016, total Stock Connect turnover has continued to hit new records, with strong participation from both Mainland and international investors.
Northbound and Southbound Stock Connect average daily turnover (ADT) reached RMB136.3 billion and HK$43.9 billion respectively in the first 10 months of 2024, accounting for 7.3 per cent and 17.2 per cent of the total turnover of the Mainland China and Hong Kong markets.
As of September 2024, the market capitalisation of securities portfolios held in Hong Kong by Mainland Chinese investors through Stock Connect was over HK$3.3 trillion, more than 200 times that at the end of 2014.
As Stock Connect enlarged its scope and benefited from significant enhancements to its infrastructure, the Connect programme also expanded into other asset classes, with the launch of Bond Connect in 2017, ETF Connect in 2022, and Swap Connect in 2023.
More enhancements are underway, including block trading for Stock Connect, the inclusion of Real Estate Investment Trusts (REITs) to Connect, and RMB-denominated stocks in Southbound Connect, additions that will give international and Mainland investors even more opportunity and choice in allocating their investment portfolios.
To learn more about HKEX’s Connect programmes, please read the newly-published paper, Ten Years of Connect.
[Hong Kong Chief Executive Eric Chan]
[Hong Kong Financial Secretary Paul Chan]
[China Securities Regulatory Commission Vice Chairman Li Ming]
[HKEX Chairman Carlson Tang]
[HKEX CEO Bonnie Y Chan]
[Guests from Mainland Hong Kong and China toasted and celebrated the 10th anniversary of Connect]
About HKEX
Hong Kong Exchanges and Clearing Limited (HKEX) is a publicly-traded company (HKEX Stock Code: 388) and one of the world’s leading global exchange groups, offering a range of equity, derivative, commodity, fixed income and other financial markets, products and services, including the London Metal Exchange.
As a superconnector and gateway between East and West, HKEX facilitates the two-way flow of capital, ideas and dialogue between China and the rest of the world, through its pioneering Connect schemes, increasingly diversified product ecosystem and its deep, liquid and international markets.
HKEX is a purpose-led organisation which, across its business and through the work of HKEX Foundation, seeks to connect, promote and progress its markets and the communities it supports for the prosperity of all.
Nov 05, 2024. LONDON & NEW YORK & AMSTERDAM
Against a backdrop of risk and uncertainty across multiple fronts geographically, customers are utilizing the combination of the liquidity and precision of our global benchmarks and related contracts to manage risk.
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that October 2024 marked its highest volume month in its history with a record 209 million contracts traded across futures and options.
“The extent of trading activity during October highlights the depth, breadth and liquidity of the global exchange network we have built over the last two decades and the unique role that benchmarks such as Brent and Euribor play in underpinning the management of risk across markets,” said Trabue Bland, SVP of Futures Markets at ICE. “Against a backdrop of risk and uncertainty across multiple fronts geographically, customers are utilizing the combination of the liquidity and precision of our global benchmarks and related contracts to manage risk.”
In addition, October marked the highest volume month for commodity and energy trading at ICE with a record 117 million and 108 million futures and options contracts traded respectively, as well as the highest volume month ever for interest rate trading at ICE with 85 million futures and options traded.
ICE’s highest volume month on record prior to this was March 2020.
During October, ICE’s global benchmark Brent, the largest and most liquid oil market in the world used to price three quarters of internationally traded crude oil, witnessed its largest volume month in its history with a record 38.2 million Brent futures and options traded. While Euribor, the benchmark for managing short term euro-related interest rate risk, similarly had its highest volume month ever with a record 50.5 million futures and options traded.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology , we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here . Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.
Category: EXCHANGES
ICE-CORP
Source: Intercontinental Exchange
ICE Media:Jess Tathamjess.tatham@ice.com+44 7377 947136ICE
Investor:Katia Gonzalezkatia.gonzalez@ice.com(678) 981-3882
Source: Intercontinental Exchange
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