Hong Kong Exchanges and Clearing (HKEX) is the holding company for the Stock Exchange of Hong Kong, Hong Kong Futures Exchange, and London Metal Exchange. This timeline traces its corporate history from its founding in 2000 to its current status as a leading global exchange group.
Hong Kong Exchanges and Clearing (HKEX) was formed through the merger of the Stock Exchange of Hong Kong (SEHK), Hong Kong Futures Exchange (HKFE), and their clearing houses. The merger created a single integrated exchange group.
HKEX listed its own shares on the Stock Exchange of Hong Kong under the stock code 388. The IPO raised approximately HK$8.6 billion, making it one of the largest listings of 2000.
HKEX introduced the Automatic Order Matching and Execution System (AMS/3) to replace the earlier AMS/2, enhancing trading efficiency and capacity.
HKEX launched AMS/3, a fully automated electronic trading system, replacing the floor-based trading system. This modernized the exchange and increased trading capacity.
HKEX launched H-share index futures and options to allow investors to hedge or speculate on Chinese companies listed in Hong Kong.
HKEX announced its intention to acquire the London Metal Exchange (LME) for £1.388 billion, expanding into commodities. The deal was completed in 2012.
HKEX launched the first offshore yuan (CNH) bond futures, providing a tool for managing currency risk in the growing offshore yuan market.
HKEX introduced USD/CNH currency futures to facilitate hedging and trading of the offshore renminbi.
HKEX completed its £1.388 billion acquisition of the London Metal Exchange (LME), making HKEX a global leader in base metal trading.
HKEX launched LME Clear, a central counterparty clearing house for the London Metal Exchange, to reduce counterparty risk and comply with regulatory requirements.
HKEX launched the Shanghai-Hong Kong Stock Connect, a landmark program allowing cross-border stock trading between Shanghai and Hong Kong. This was a major step in opening China's capital markets.
HKEX launched LMEprecious, offering gold and silver futures contracts, expanding into precious metals.
HKEX announced plans to acquire a controlling stake in LME warehouses, but faced regulatory hurdles. The acquisition was not completed.
HKEX introduced after-hours futures trading to extend trading hours and increase liquidity.
HKEX launched the Shenzhen-Hong Kong Stock Connect, following the Shanghai connect, further linking Hong Kong and mainland China markets.
HKEX made a voluntary conditional offer to acquire all shares of LME Holdings, the owner of LME warehouses, but the deal was not successful.
HKEX launched its own gold futures contract to compete with LMEprecious and other global exchanges.
HKEX introduced a new listing regime allowing pre-revenue biotech companies and firms with weighted voting rights (WVR) to list, attracting many tech and biotech IPOs.
Xiaomi, the Chinese electronics company, raised $4.7 billion in its IPO on HKEX, the largest tech IPO in Hong Kong at the time.
HKEX launched MSCI China A-share index futures, allowing investors to hedge exposure to mainland Chinese stocks.
HKEX rolled out the Orion Trading Platform, a new high-performance trading system with sub-millisecond latency.
HKEX launched MSCI China A-share index futures, allowing investors to hedge exposure to mainland Chinese stocks.
NetEase and JD.com, both U.S.-listed Chinese tech companies, raised billions through secondary listings on HKEX amid rising U.S.-China tensions.
HKEX launched futures and options on the Hang Seng Tech Index, providing hedging tools for the technology sector.
HKEX reported a record 398 IPOs in 2020, raising over HK$400 billion, driven by secondary listings and biotech IPOs.
HKEX launched MSCI Asia Pacific ex-Japan index futures to expand its derivatives offerings.
HKEX launched STOXX Europe 600 index futures, providing exposure to European markets.
HKEX launched carbon credit futures to support the green finance and sustainability agenda.
HKEX launched MSCI climate change index futures to help investors manage climate-related risks.
Nicolas Aguzin, a former JPMorgan executive, assumed the role of Chief Executive Officer of HKEX, the first non-Chinese to hold the position.
HKEX announced a strategic investment in the Guangzhou-based Special Metal Exchange (SME) but later withdrew.
HKEX launched the ETF Connect program, allowing cross-border trading of exchange-traded funds between Hong Kong and mainland China.
HKEX expanded the scope of Stock Connect to include eligible ETFs and enhanced the daily quota.
HKEX approved the listing of virtual asset futures ETFs, the first of their kind in Hong Kong.
HKEX restructured into three business units: Cash Equities, Derivatives, and Post-Trade, aiming to streamline operations.
HKEX launched advisory services to help companies achieve carbon neutrality, part of its climate action strategy.
HKEX introduced the RMB dual-counter model for stocks, allowing trading in both HKD and RMB to boost offshore yuan usage.
HKEX reported a record monthly derivatives trading volume of over 20 million contracts in September 2023.
HKEX announced plans to expand Stock Connect to allow Hong Kong investors to trade foreign stocks on mainland exchanges, further integrating markets.
HKEX celebrated 24 years of operation, having grown from a local exchange to a global financial infrastructure group with a market capitalization of over HK$400 billion.