1 Hong Kong Exchanges and Clearing Limited - Year-end Review 21 December 2000.

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Presentation transcript:

1 Hong Kong Exchanges and Clearing Limited - Year-end Review 21 December 2000

Milestones Market Highlights (As of 15 December) Most funds raisedHK$459bil Main Board: HK$444bil GEM: HK$15bil Most funds raised by IPOsHK$132bil Main Board: HK$117bil GEM: HK$15bil Most funds raised in the secondary marketHK$327bil Most funds raised by H-shares and red-chips HK$343bil markets Most IPOs84 (Main Board:39; GEM:45) Expected at year-end:90 (Main Board: 43; GEM: 47) Most funds raised by a single IPO HK$44bil by China Unicom Ltd Second highest stock market turnoverHK$3,079bil (Highest = HK$3,789bil in 1997) Record high for HSI18,302 (28 March)

3 -Merger of securities and futures exchanges and clearing houses -Regulatory rationalisation: handover of certain regulatory functions to SFC -MOU on listing matters between SFC and SEHK -Merger of securities and futures exchanges and clearing houses -Regulatory rationalisation: handover of certain regulatory functions to SFC -MOU on listing matters between SFC and SEHK -Merger of securities and futures exchanges and clearing houses -Regulatory rationalisation: handover of certain regulatory functions to SFC -MOU on listing matters between SFC and SEHK -Merger of securities and futures exchanges and clearing houses -Regulatory rationalisation: handover of certain regulatory functions to SFC -MOU on listing matters between SFC and SEHK March -Launch of Pilot Programme for trading Nasdaq shares -Consultation paper on amendments to the GEM Listing Rules issued -Launch of Pilot Programme for trading Nasdaq shares -Consultation paper on amendments to the GEM Listing Rules issued 2000 Milestones -Launch of Pilot Programme for trading Nasdaq shares -Consultation paper on amendments to the GEM Listing Rules issued -Launch of Pilot Programme for trading Nasdaq shares -Consultation paper on amendments to the GEM Listing Rules issued May -Listing of HKEx -Announcement of Global Equity Market alliance -Migration of HSI Futures and Options to electronic trading - CFTC approval for HKATS in US -Reduction of transaction levy -Listing of HKEx -Announcement of Global Equity Market alliance -Migration of HSI Futures and Options to electronic trading - CFTC approval for HKATS in US -Reduction of transaction levy June -Listing of HKEx -Announcement of Global Equity Market alliance -Migration of HSI Futures and Options to electronic trading - CFTC approval for HKATS in US -Reduction of transaction levy -Listing of HKEx -Announcement of Global Equity Market alliance -Migration of HSI Futures and Options to electronic trading - CFTC approval for HKATS in US -Reduction of transaction levy Recognition of GEM by the US SEC as a designated offshore securities market -Recognition of GEM by the US SEC as a designated offshore securities market August -Launch of Internet Initial Public Offering service -First interim results report -Launch of Internet Initial Public Offering service -First interim results report -Launch of Internet Initial Public Offering service -First interim results report -Launch of Internet Initial Public Offering service -First interim results report September -Launch of Mini-HSI Futures contract -Rollout of AMS/3 -Launch of Mini-HSI Futures contract -Rollout of AMS/3 -Launch of Mini-HSI Futures contract -Rollout of AMS/3 -Launch of Mini-HSI Futures contract -Rollout of AMS/3 October -MOU with ASX on exchange of market surveillance information -Licensing agreement for the development of MSCI China Free Index futures and options contracts -Contribution to the community -MOU with ASX on exchange of market surveillance information -Licensing agreement for the development of MSCI China Free Index futures and options contracts -Contribution to the community -MOU with ASX on exchange of market surveillance information -Licensing agreement for the development of MSCI China Free Index futures and options contracts -Contribution to the community -MOU with ASX on exchange of market surveillance information -Licensing agreement for the development of MSCI China Free Index futures and options contracts -Contribution to the community December

4 Way Forward Market Regulation u Rationalisation of Main Board and GEM Listing Rules, and listing approval procedures u MOU with SFC on regulatory rationalisation u Enhanced market surveillance

5 Way Forward Market Infrastructure u Complete rollout of AMS/3 functionalities u Upgrade CCASS u Integrate derivatives trading and clearing platforms

6 Way Forward Product and Services Development u Introduce international benchmark financial products u Introduce Exchange Traded Funds u Provide central back-office support services u Expand registrar, nominee and related services u Enhance investor information services

7 Way Forward China Strategy u Strengthen cooperation with Mainland exchanges u Open a liaison office in Beijing in Q1 u Strengthen business network and carry out promotional and educational activities in China

8 Thank you