Higher market turnover at Hong Kong Exchanges and Clearing Limited (HKEx) pushed profits higher for the first nine months of 2013. Revenue at the exchange was up 20% and EBITDA rose 13% to HK$4.2 billion.
Average daily market turnover for the first ten months of 2013 was HK$63.2 billion, an increase of 19% on the same period last year.
The average daily turnover of derivative warrants for this period recorded a 14% increase to HK$7.7 billion and daily turnover of futures and options was 533,285 contracts, a rise of 10%.
In terms of strategic achievements for the year to date, HKEx highlighted the imminent launch of OTC Clear, its point policy statement with the Securities and Futures Commission (SFC) regarding the listing of overseas companies in Hong Kong, the introduction of CES 120 Futures and HSI Volatility Index Futures, and changes in the listing rules to support the SFC’s new IPO sponsor regulations.
The exchange rolled out the first phase of the Orion Market Data platform in September, which will allow the exchange to disseminate a range of data feed products. The next phases of that project, scheduled for rollout in the first half of 2014, will firstly extend direct distribution of HKEx market data to mainland China and secondly, the platform will be used to distribute derivatives market data.