HKEX takes ‘Asia to New York’ with opening of NY office

Rick Steves

“There is immense appetite for better insight and access to Asia capital markets in the US, and in opening up an HKEX office in New York, we can better align with our clients’ interests and ambitions.”

Hong Kong Exchanges and Clearing Limited (HKEX) has officially opened its New York office at a reception held at New York’s Rockefeller Center.

The exchange operator now has feet on the ground to take ‘Asia to New York’, a move that realizes HKEX’s commitment to greater global market connectivity and to working with its international customer base around the world.

HKEX brings unique access to Mainland China, offshore Renminbi ecosystem, regional derivatives, and IPOs

HKEX’s North American clients will now have enhanced access to information on Asia’s dynamic capital markets, including updates on market developments, products and services.

The office will promote Hong Kong’s marketplace, home to a leading IPO and equities franchise, unique access to Mainland China markets, as well as a burgeoning offshore Renminbi ecosystem and an expanding suite of regional and international derivatives products.

Nicolas Aguzin, Chief Executive Officer at HKEX, said: “The opening of our New York office is a great cause for celebration as we bring the Hong Kong and HKEX story to North America. As a purpose-driven company, enhancing connectivity across markets and geographies is at our core. Supporting our international clients around the world by being on the ground and listening to their needs is critical so that we can deliver shared sustained success.

“This new office will better connect two of the most important financial centres in the world, and, together with our recently announced London office, will further connect international capital with the exciting opportunities in Asia. This is part of HKEX’s ongoing commitment to further broaden international participation in our markets, strengthening Hong Kong’s position as a superconnector between East and West.”

“Immense appetite for better insight and access to Asia capital markets in the US”

HKEX (U.S.) LLC will be led by Roger McAvoy, Managing Director and Head of Business Development, North America, and its office will provide on-the-ground services to North American clients during their working hours as part of the exchange operator’s efforts to broaden international participation in its market.

Roger McAvoy, Head of Business Development, North America, at HKEX, added: “There is immense appetite for better insight and access to Asia capital markets in the US, and in opening up an HKEX office in New York, we can better align with our clients’ interests and ambitions. This is about bringing opportunities and expertise closer to our customers and we look forward to helping them tap into the Asia growth story in the future.”

The New York and London offices will complement HKEX’s existing international reach from its offices in Beijing, Shanghai, and Singapore.

Key highlights of what HKEX represents for international participants:

  • International investors account for about half and a third of Hong Kong’s cash equities total turnover and derivatives market trading volume, respectively
  • Hong Kong is Asia’s biggest international listing venue for new economy and biotech companies. Hong Kong has consistently ranked as the top five global listing venue in the last decade
  • HKEX’s cash and derivatives product ecosystem is unique, offering underlying assets in Greater China, the Asia Pacific and beyond, including a full suite of futures and options products that track Hang Seng and MSCI indexes
  • International investors can enjoy access to Mainland China’s markets through the exclusive HKEX Connect programmes between Hong Kong and Mainland China – these cover stocks, bonds, ETFs, and most recently, swaps
  • Over 70 per cent 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 onshore equities market
  • HKEX’s Connect infrastructure continues to develop: international companies that primary list in Hong Kong now have exclusive access to Mainland China investors via Stock Connect, providing unique access to another significant and uncorrelated capital pool
  • HKEX this week launched a new initiative to support trading of shares of eligible companies in both Hong Kong Dollar and the Renminbi, providing seamless and convenient choice for investors seeking to tap the significant pool of offshore Chinese currency in Hong Kong

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