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HKEx to launch JV with mainland stock exchanges

Jun. 29, 2012 (China Knowledge) - Hong Kong Exchanges and Clearing Ltd or HKEx<0388>, the world's leading exchange operator by market value, announced yesterday that it has signed an agreement with the Shanghai Stock Exchange and Shenzhen Stock Exchange to set up a joint venture in Hong Kong.

The JV will have an initial registered capital of HK300 million, and each of the exchanges will contribute HK$100 million to the new company to hold an equal stake.

The new company will develop index-linked equity derivative products and compile cross-border indices based on products traded on the three markets.

The HKEx said that the establishment of the JV will strengthen the competitiveness of Hong Kong, help promote the development of China's capital markets and the internationalization of the three exchanges.

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