Hong Kong Exchanges and Clearing Limited (HKXCY)

Hong Kong Stock Exchange Hong Kong Exchanges and Clearing Limited(OTC:HKXCY、HKXCF、 HKEx : 0388) was founded on March 6, 2000, Headquartered in Hong Kong Central, with 2204 full-time employees, is one of the world's major exchanges. It is a holding company listed in Hong Kong and has operating exchanges in Hong Kong and London, UK. Its members include the Stock Exchange of Hong Kong Limited (SEHK), Hong Kong Futures Exchange Limited (HKFE), Hong Kong Central Clearing Co., Ltd The Stock Exchange of Hong Kong Options Clearing House Limited and Hong Kong Futures Clearing Company Limited, including the base metals market - London Metal Exchange London Metal Exchange and Clearing House. The current Chairman of the Board of Directors is Laura Cha Shih May lung, and the Chief Executive Officer is Nicolas Aguzin.

The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

Hong Kong Exchanges and Clearing Limited (HKXCY)

Hong Kong Exchanges and Clearing Limited and its subsidiaries own and operate stock exchanges, futures exchanges and related clearing houses in Hong Kong, mainland China and the United Kingdom. It operates through five departments: cash, equity and financial derivatives, commodities, post trade, and technology. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

Cash Department, whose business covers various stock products traded on the cash market platforms of the Stock Exchange of Hong Kong Limited, Shanghai Stock Exchange and Shenzhen Stock Exchange; Sales of market data related to products; And other related activities. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

The Equity and Financial Derivatives Department provides and maintains a series of trading platforms for stocks and financial derivatives, such as stock and stock index futures and options, derivative warrants, redeemable bull/bear contracts and warrants, and sells relevant market data. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

The commodity sector operates exchanges in the UK for trading futures and options contracts for base metals, ferrous metals and precious metals; It also operates the mainland commodity trading platform Qianhai Commodity Exchange Co., Ltd. This section also includes commodity contracts traded on futures exchanges. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

Post Trade Department operates a clearing house, which is responsible for clearing, settlement, custody, custody and agent services. The technology department provides various services to provide users with access to the platform and infrastructure. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

Hong Kong Stock Exchange Trading System: The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

Before the first generation of automatic order matching and transaction system was fully launched, most transactions were first notified to the brokers who intended to buy and sell through the internal telephone to inform them of their closing volume, and then the order room placed the orders through the computer for trading, because the computer in the trading lobby at that time could only be used to let the market representatives know the brokers who intended to buy and sell and their number, and it did not have the function of buying and selling. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

Later, the first generation of automatic order matching and closing system of HKEx was launched in November 1993, formally computerizing the whole trading process. The second and third generation of automatic order matching and trading systems were launched in 1996 and 2000 respectively. Securities brokers can directly input orders into the central processing system through an open connector for trading, making trading faster and increasing the volume of transactions that can be handled by the exchange; At the same time, the quotation and trading system of the securities firm can also be directly connected to its counter order processing system, so that trading and quotation information is no longer restricted to circulation in the trading lobby. The Hong Kong Stock Exchange introduced a new trading platform in the securities market in February 2018, namely the Navigator Trading Platform (page archiving and backup, stored in the Internet Archive) - Securities Market (OTP-C), to replace the third generation electronic stock trading system AMS/3 platform launched in October 2000. OTP-C has better processing capacity and quotation accuracy than AMS/3 platform, so that the trading volume and quotation can be accurately reflected, reducing the risk that the stock price may not be updated in a timely manner and deal with a large number of closing transactions when trading and investment is booming. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

On the morning of September 5, 2019, some investors found that the futures trading of HKEx was not smooth and could not place orders. At about 11:00 a.m., HKEx confirmed that the HKATS electronic trading system in the derivatives market had connectivity problems, and suspended futures and options trading for the first time since 2:00 p.m. due to trading system failure, with the market closed for 12 hours. Confirm the electronic trading system (HKATS) provided for the supplier after preliminary investigation Software Error, eliminate hacker attacks and human causes. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/hkxcy.html

Equity structure of Hong Kong Stock Exchange:

Since September 7, 2007, the government of the Hong Kong Special Administrative Region has been the single largest shareholder of the Hong Kong Stock Exchange, holding 5.88% of the shares. According to Article 61 of the "Securities and Futures Ordinance", no person can hold 5% or more of the shares of the Hong Kong Stock Exchange, except for the written approval given by the SFC after consulting the Financial Secretary of Hong Kong.

The business operation of the Hong Kong Stock Exchange is carried out by a number of specialized departments under the direct leadership and supervision of the management and the Board of Directors. The Board of Directors is the highest decision-making body, responsible for formulating the objectives, missions, strategies, policies and business plans of the Hong Kong Stock Exchange, and supervising the implementation of the management.

The board of directors includes no more than 6 directors appointed by the government, no more than 6 directors elected by shareholders and the chief executive. The current Chairman of the Board of Directors is Shi Meilun, and the Group CEO is Ou Guansheng, who is also an ex officio member of the Board of Directors.

The Hong Kong Stock Exchange, a subsidiary of the Hong Kong Stock Exchange, is responsible for the front line supervision of Hong Kong listed companies, and its operation and work are subject to the supervision of the Listing Committee composed of independent market persons and the Securities and Futures Commission of Hong Kong. There are 28 members of the Listing Committee, of which at least 8 are persons representing the rights and interests of investors, and the rest include 19 persons who can properly represent the listed issuer and market practitioners (including lawyers, accountants, corporate financing consultants and exchange participants or senior officers of exchange participants).

As a Hong Kong listed company, Hong Kong Stock Exchange's compliance is supervised by the Hong Kong Securities Regulatory Commission.

The board of directors of HKEx includes no more than 6 directors appointed by the Financial Secretary, no more than 6 directors elected by shareholders, and the Chief Executive Officer. On April 2, 2013, the SAR government appointed Liang Gaomeiyi as a director, and reappointed Harrison, Xu Zhaozhong and Li Zihou as directors.

Trading time of HKEx:

The trading is conducted from Monday to Friday (except public holidays), and the trading hours are as follows:

• Opening bidding period (pre opening period)
  • Stock market: 9:00 a.m. to 9:30 a.m
  • Futures market: 8:45am to 9:15am
  • 12:30 p.m. to 1:00 p.m

(Trading can be conducted by bidding order, bidding limit order, etc.)

• Morning trading hours
  • Stock market: 9:30 a.m. to 12:00 p.m
  • Futures market: 9:15 a.m. to 12:00 p.m
• Continue the morning trading session
  • 12:00 p.m. to 1:00 p.m

(After the morning market closes, stocks and futures indexes can also be traded during this period, but the transaction will not be completed until the opening of the afternoon market (stocks)/bidding of the afternoon market (futures indexes))

• Afternoon trading hours
  • Stock market: 1:00 p.m. to 4:00 p.m
  • Futures market: 1:00 p.m. to 4:30 p.m
• Closing bidding period (pre closing period)
  • 4:00 p.m. to 4:10 p.m

(Only limited to the stock market, which can be traded by auction order, auction limit order, etc.)

• Post closing trading period
  • 5:15 p.m. to 3:00 a.m. of the next day (only limited to the market, except for the settlement day of the futures index or the holidays of the European and American stock markets)

Note: On Christmas Eve, New Year's Eve and Lunar New Year's Eve, there will be only morning trading hours. The closing auction will be held from 12:00 to 12:10 in advance; The futures market will not provide night market trading on that day. The Hong Kong Stock Exchange has introduced a market fluctuation adjustment mechanism in the securities market and derivatives market to ensure the correct operation of the securities and derivatives market.

Hong Kong Exchanges and Clearing Limited (HKXCY) History Encyclopedia

On March 6, 2000, the Stock Exchange of Hong Kong Limited, Hong Kong Futures Exchange Limited and Hong Kong Central Clearing Corporation Limited completed their merger, which was held by the single holding company Hong Kong Stock Exchange. The Hong Kong Stock Exchange, born after the merger, was listed on the Stock Exchange on June 27, 2000.

The Hong Kong Stock Exchange was merged by the Hong Kong Stock Exchange, the Far East Exchange, the Jinyin Stock Exchange and the Kowloon Stock Exchange on April 2, 1986.

Hong Kong's securities trading was first seen in the mid-19th century, but it was not until 1891 that the first official exchange, the Hong Kong Stock Brokers Association, or the Hong Kong Stock Brokers Association, emerged. The initial transactions are recorded with blackboard chalk. With the rapid development of Hong Kong's economy, the Hong Kong Stock Exchange, the Far East Exchange, the Jinyin Stock Exchange and the Kowloon Stock Exchange were formed in the 1970s.

At that time, the Fourth National People's Congress planned to merge, and at the same time, a larger venue was needed to set up trading facilities. The Fourth Committee came to an end on March 27, 1986. On April 2, 1986, the Hong Kong Stock Exchange, which was formed by the merger of the four exchanges, officially opened. At first, the computer aided trading system was used for securities trading. However, since 1993, when securities trading has been fully electronic, more and more securities firms have stopped sending market representatives in the trading lobby, and all trading has been conducted in the office.

The Hong Kong Futures Exchange, formerly the Hong Kong Commodity Exchange, was established in 1976. The main products traded by the Hong Kong Commodity Exchange at that time included cotton futures, sugar futures, soybean futures and gold futures. On May 7, 1985, the Hong Kong Commodity Exchange was renamed the Hong Kong Futures Exchange. On May 6, 1986, the Futures Exchange launched its flagship product - Hang Seng Index Futures; Up to now, HSI Futures is still the most popular futures product in the derivatives market of the Hong Kong Stock Exchange. Other derivative products provided by the Futures Exchange include stock index, stock and interest rate futures and option products. Since June 2000, the trading of the Futures Exchange has been fully electronic.

After the Asian financial crisis in 1998, the Financial Secretary of the Hong Kong Special Administrative Region announced in his speech on the budget in 1999 that Hong Kong's securities and futures markets would undergo comprehensive reform to improve Hong Kong's competitiveness and meet the challenges posed by market globalization. According to the reform plan, the Hong Kong Stock Exchange and the Hong Kong Futures Exchange have implemented shareholding and merged with the Hong Kong Clearing House, which is owned by the single holding company Hong Kong Stock Exchange.

The Stock Exchange and the Futures Exchange held their respective general meetings on September 27, 1999, at which the relevant agreement plans were approved respectively, and the court approved the relevant agreement plans on October 11, 1999. The merger of the two exchanges and the clearing company took effect on March 6, 2000, and the merged Hong Kong Stock Exchange was listed on the Stock Exchange by way of introduction on June 27, 2000. The closing price of the shares on the first day of listing was HK $8.25.

In September 2012, the Hong Kong Stock Exchange established a joint venture with the Shanghai Stock Exchange and the Shenzhen Stock Exchange, China Securities Trading Services Co., Ltd. The three exchanges share the same equity.

As of the performance of the first quarter of 2007, the total asset value of HKEx was HK $43.5 billion, the net asset value was HK $6.2 billion, the net profit was HK $920 million, an increase of 93% year on year, and the daily turnover was HK $52.9 billion.

As of September 11, 2007, the Hong Kong SAR Government was the single largest shareholder of the Hong Kong Stock Exchange, holding 5.88% of the shares. The second is JPMorgan Chase ：5.54%， Citibank ：4.13%，Horizo​​ntal Asset：2.30%。

As of December 31, 2008, there were 465 mainland enterprises listed in Hong Kong, accounting for 37% of the total number of listed enterprises, with a market value of about HK $6161 billion, accounting for about 60% of the total market value. From 1993 to the end of 2008, mainland enterprises raised more than HK $12 trillion in Hong Kong.

On August 11, 2011, the "Easy to Disclose" website of the Hong Kong Stock Exchange, which distributed information about listed companies, was hacked in the morning and was unable to display information. Including 7 shares and 1 share of HSBC bond , forced to suspend trading in the afternoon. HKEx has reported the incident to the police.

October 2011, BM&FBOVESPA, Moscow, Russia bank At the meeting of the International Federation of Stock Exchanges held in South Africa, the Bombay Stock Exchange of India, Hong Kong Exchanges and Clearing Limited and the Johannesburg Stock Exchange of South Africa announced the establishment of the BRICS Exchange Union.

On October 21, 2011, HKEx officially signed an agreement with Zhongguancun to promote the overseas listing of enterprises as a strategic memorandum.

On April 1, 2012, it became the first exchange to be approved to set up a "data station" in Shanghai, the mainland. In the future, it can directly provide the mainland market with the latest Hong Kong stock quotes.

On June 15, 2012, HKEx successfully acquired London Metal Exchange for 1.388 billion pounds , enter the commodity business. Through LME, Hong Kong Stock Exchange takes a leading position in the world in basic metal futures and options trading.

On September 26, 2012, a joint venture "China Securities Trading Services Co., Ltd." was established with the Shanghai and Shenzhen Stock Exchanges. It plans to launch a new cross-border index series at the end of 2012, and launch related index products in the first quarter of 2013. China Trading Services announced that it will launch two new cross-border index series on March 18, including the China A80 Index and the Hong Kong and Mainland China Index.

On November 19, 2012, the Hong Kong Stock Exchange established the first OTC clearing house in Hong Kong OTC Clearing Company Limited (OTC Clearing Company). The main shareholder of Hong Kong OTC Clearing Company is Hong Kong Stock Exchange, holding 75% shares; The remaining 25% equity includes the Agricultural Bank of China Hong Kong Branch HSBC 、 Standard Chartered and JPMorgan Chase 12 banks and financial institutions.

On March 18, 2013, China Trading Services launched two new indexes, "China A80" and "China Hong Kong Mainland Index" (HKMI).

On August 12, 2013, China Trading Service China 120 Index (hereinafter referred to as "China 120") futures was launched to further expand its product portfolio related to mainland China. China 120 Futures will be the world's first derivative product listed on the exchange and cover major Chinese shares in the mainland and Hong Kong markets. Investors can easily and cost effectively capture opportunities in both markets for trading or hedging through this single futures contract.

On October 31, 2013, the OTC clearing company of HKEx has been approved by the CSRC to become a recognized clearing house. It plans to put into service in November, initially deal with contract transactions between dealers, and plan to launch customer settlement services in the middle of next year.

On November 17, 2014, the Hong Kong Stock Exchange and the Shanghai Stock Exchange jointly launched the Shanghai Hong Kong Stock Connect mechanism to connect the mainland and Hong Kong stock markets, which is a milestone in the development of Hong Kong's financial market, creating a new model of two-way opening of China's capital market, and opening a new model of connectivity of the global financial market.

On January 21, 2016, the Hong Kong Stock Exchange launched a new corporate image and changed the company logo.

On December 5, 2016, the Hong Kong Stock Exchange and the Shenzhen Stock Exchange jointly launched the Shenzhen Hong Kong Stock Connect, and the interconnection mechanism entered the era of 2.0.

On July 3, 2017, the Bond Connect was officially launched, allowing international investors to easily invest in the inter-bank bond market in mainland China through Hong Kong, opening a new era for the opening of China's bond market.

On May 11, 2017, the Hong Kong Stock Exchange (HKEx) held the pre LME Asia Annual Conference forum at the Shenzhen Qianhai Joint Trading Center (QME) under preparation, introducing the Qianhai Joint Trading Center to the industry and the media for the first time. Qianhai United Trading Center will make full use of the experience of Xiang LME to build a bulk commodity trading and service platform that truly serves the real economy of the mainland.

On October 27, 2017, the Hong Kong Stock Exchange closed its 31 year old trading hall and converted its current location to the "Finance Hall" to promote the Hong Kong financial market. The new hall can be used to hold ceremonies, exhibitions, conferences and investors education Activities.

In December 2017, the Hong Kong Stock Exchange established the direction of the largest listing reform since the H-share listing in 1993, allowing new economy companies with different voting power structures, biotechnology companies with no income to list in Hong Kong, and easing the second listing of enterprises with different voting power structures that have been listed in the international market.

On April 30, 2018, the reform of the listing system officially took effect.

On September 11, 2019, the Hong Kong Stock Exchange planned to purchase by issuing new shares in cash and in addition London Stock Exchange group The Hong Kong Stock Exchange will invest about 29.6 billion pounds (about 286.7 billion Hong Kong dollars) (cash accounting for 71.5 billion yuan) to acquire the London Stock Exchange Group at a cash price of 20.45 pounds per share plus 2.495 new shares of the Hong Kong Stock Exchange, which will be converted into about 83.61 pounds. After the transaction is completed, the existing shareholders of the Hong Kong Stock Exchange will become the major shareholders of the merged group, holding 59% of the shares, while the London Stock Exchange will hold the remaining 41% of the shares. However, two days later, the board of directors of the London Stock Exchange formally rejected the relevant acquisition. The reply indicated that the acquisition proposal had "fundamental defects", and listed a number of objections, including "the board structure is under the control of the government", "the business of Hong Kong Stock Exchange is highly concentrated", "the request to abandon the acquisition of Luftwaffe is not in line with the interests of shareholders" and "the price is lower than the target".

On October 8, 2019, HKEx announced that it would abandon its plan to acquire London Stock Exchange.

On January 7, 2021, the Hong Kong Stock Exchange announced that it planned to optimize the market fluctuation adjustment mechanism (market survey mechanism) and the pre opening period of the derivatives market from the next quarter, allowing the market survey mechanism to be triggered multiple times in each trading period, so as to protect the market's positive operation.

On February 9, 2021, the Hong Kong Stock Exchange announced that Alejandro Nicolas Aguzin was appointed as the chief executive of the Hong Kong Stock Exchange Group from May 24, 2021 for a period of three years to May 23, 2024. The appointment will not take effect until the approval of the Securities and Futures Commission. After obtaining this approval, Ouguansheng will also serve as an ex officio member of the Board of Directors, effective on May 24, 2021.

Hong Kong Exchanges and Clearing Limited (HKXCY) US equity investment

and millet Similarly, the Hong Kong Stock Exchange is listed on the main board of Hong Kong, and it is recommended that you trade directly through the Hong Kong stock market, US stock ADR Only suitable for friends without Hong Kong stock accounts.