HKEX brings Mainland China’s markets to New York with new office

Rick Steves

“We look forward to deepening our relationships with investors, companies and risk managers across the region, connecting capital with opportunities and East with West. I am confident the office will play a vital role as we continue to build the vibrancy and attractiveness of our markets and our unique China Connect programmes.”

Hong Kong Exchanges and Clearing Limited (HKEX) has opened its New York office, which will be headed by Roger McAvoy, Managing Director and Head of Business Development, North America.

The New York office will provide an on-the-ground dedicated team for HKEX’s North American customers and will promote the exchange operator’s liquid primary and secondary cash markets, as well as its exclusive connectivity with Mainland China’s markets and its diverse suite of derivatives.

Exclusive connectivity with Mainland China’s markets and suite of derivatives

The New York office will build out its team over the coming months, making it easier for HKEX to connect with investors, market participants and their intermediaries during their own working day and enabling the group to build stronger relationships with its regional clients.

The new New York office will complement HKEX’s existing international reach from its offices in Shanghai, Beijing, and Singapore. The move effectively expands the exchange group’s international footprint and supports its growing global client base. The company is also continuing with its plans to open a European office.

Hong Kong is Asia Pacific’s leading international trading, investment and risk management centre, and having a physical presence in New York, the financial capital of North America and one of the great international cities of the world, will support HKEX’s ongoing commitment to global connectivity.

HKEX builds vibrancy of unique China Connect programme

Nicolas Aguzin, Chief Executive Officer at HKEX, said: “At HKEX, we are fully focused on supporting the growth ambitions of our customers around the globe, and I am therefore today delighted to announce the opening of our New York office. We look forward to deepening our relationships with investors, companies and risk managers across the region, connecting capital with opportunities and East with West. I am confident the office will play a vital role as we continue to build the vibrancy and attractiveness of our markets and our unique China Connect programmes.”

“I am also delighted Roger will be leading our engagement in North America, having already done exemplary work in building our franchise in Southeast Asia over the past five years as head of our Singapore office. I have every confidence that he, together with the broader HKEX team, will be successful in supporting our global customers and driving new investors and companies to Hong Kong, the region’s premier international financial centre.”

A few highlights of the HKEX role in financial markets:

  • International investors account for around 41% of Hong Kong’s cash equities market trading turnover, with US investors accounting for 10% of total turnover.
  • HKEX has a unique cash and derivatives product ecosystem with underlying in Greater China, Asia Pacific, and beyond, including a vast suite of futures and options products that track Hang Seng and MSCI indexes.
  • Over 70% of all international investments into China’s A-share equities market are held via HKEX’s Stock Connect programme, which provides international investors with exclusive and reliable access to the A-share market.
  • HKEX’s Connect infrastructure continues to develop: international companies that primary list in Hong Kong will soon have direct access to Mainland China investors, providing another compelling reason for a Hong Kong listing.

Roger McAvoy heads New York office

Roger McAvoy joined HKEX in August 2017 and currently heads up its corporate subsidiary, HKEX (U.S.) LLC, in charge of business development for North America. Roger McAvoy will continue to report to HKEX Co-Head of Sales and Marketing, Kevin Rideout.

Before joining HKEX, he was responsible for Asia institutional sales and relationship management at Deutsche Boerse’s 360T OTC FX electronic trading and data analytics platform.

In prior roles, he led MSCI’s Equity Index Benchmark Data and Portfolio Management Analytics businesses in Asia Pacific and the EMEA regions, and had spent his earlier career leading institutional client coverage and commercial product management teams at Thomson Financial and Tradeweb.

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