Latest news with #BonnieChanYiting
South China Morning Post
4 days ago
- Business
- South China Morning Post
HKEX starts consultation on shortening settlement cycle in cash equities market
Hong Kong Exchanges and Clearing (HKEX) published a discussion paper outlining plans to shorten the settlement cycle in the cash equities market to further modernise its financial infrastructure. The city's bourse operator said the move would create a path for how and when to implement the idea as global financial markets had started adopting faster timelines, according to a document released on Wednesday. It aimed to build consensus and develop a detailed implementation timeline with views from other stakeholders, it added. Up to 88 per cent of global cash equities by trade value were expected to settle a day after trade, commonly known as T+1, HKEX said. The US has moved to T+1, while Australia and the European Economic Area are exploring similar transitions. Hong Kong has operated under a T+2 settlement cycle since 1992. 'In a rapidly evolving global market landscape, there is urgency to seek a way forward,' CEO Bonnie Chan Yiting said. As a market operator, HKEX was fully committed to 'ensuring that our financial ecosystem remains robust and fit for purpose', she added. HKEX was inviting feedback from all market participants until September 1, adding that any changes to the settlement cycle would be a multi-year process. The discussion would focus on secondary market transactions and exclude initial public offerings, it added. The paper detailed the pros and cons of shortening the cycle. Potential benefits included enhanced market efficiency, reduced systemic risk and closer alignment with global markets. Navigating time-zone differences, foreign-exchange impacts and shorter post-trade timelines were among major challenges, it noted.
South China Morning Post
03-07-2025
- Business
- South China Morning Post
HKEX launches order-routing service to enhance mutual fund distribution ecosystem
Hong Kong Exchanges and Clearing (HKEX) has launched an order-routing service on its fund platform as part of its move to diversify its business and support the government's ambition to strengthen the city as an international wealth management centre. Advertisement 'This centralised platform will connect participants of all sizes across the fund value chain, fostering greater collaboration and elevating operational efficiencies for the fund distribution industry,' CEO Bonnie Chan Yiting said at a ceremony to launch the service on Thursday. 'This offering underscores our commitment to further advance the development of Hong Kong's fund distribution ecosystem and to enhance its position as a leading hub for wealth and asset management in the region.' The order-routing service on the exchange's fund platform was designed to facilitate seamless interaction between fund distributors and transfer agents with mutual fund companies. The funds' subscription and redemption information will be available electronically via the platform. HKEX CEO Bonnie Chan Yiting said the launch of the order-routing service further advances the development of Hong Kong's fund distribution ecosystem. Photo: Edmond So A total of 33 firms, mainly mainland Chinese banks and fund houses, will use the order-routing services. This includes 17 fund distributors like Bank of China (Hong Kong), Bank of Communications (Hong Kong), Chief Securities, China Construction Bank (Asia) and Haitong International Securities. Advertisement Ten fund houses, including BOCHK Asset Management, Bosera Asset Management (International) and CCB International, as well as six transfer agents like Bank of Communications Trustee, BOCI-Prudential Trustee, and State Street Bank and Trust, will use the platform.
South China Morning Post
30-04-2025
- Business
- South China Morning Post
HKEX reports best quarter after China's ‘DeepSeek moment' spurred market's rerating, IPOs
Hong Kong Exchanges and Clearing (HKEX), operator of Asia's third-largest stock market, said its first-quarter profit reached a record high, thanks to more new listings and increased turnover. Advertisement On Wednesday, HKEX said its first-quarter net profit rose 37 per cent to HK$4.08 billion (US$526 million), or HK$3.23 per share, from HK$2.97 billion a year earlier. Analysts, according to a consensus estimate compiled by Bloomberg, expected the company to report a profit of HK$3.99 billion. In the first quarter of 2021, HKEX reported a then-record profit of HK$3.84 billion. 'The renewed global interest in China opportunities that picked up in the second half of 2024 continued to build momentum into 2025, boosted by exciting developments in artificial intelligence and innovation,' said CEO Bonnie Chan Yiting in a statement. 'The vibrancy of Hong Kong's capital raising activity during the quarter continued to underscore the attractiveness of our markets, which ranked in the world's top five IPO venues and recorded two of the largest follow-on offerings since April 2021.' Bonnie Chan Yiting, CEO of HKEX. Photo: Nora Tam She also noted the growth momentum continued in the second quarter with a healthy pipeline of 120 listing applications, strengthening Hong Kong's position as a leading global fundraising venue
South China Morning Post
25-03-2025
- Business
- South China Morning Post
Hong Kong market seen funding more ‘jaw-dropping' Chinese start-up innovations
Hong Kong's capital markets are poised to provide the long-term funding that will help start-ups in mainland China deliver more 'jaw-dropping' innovations in coming years, speakers at an investment summit said on Tuesday. Advertisement 'China has many enterprises that are low-key, but they are not 'lying flat', as many of them are working very hard on various innovation and technology developments,' Bonnie Chan Yiting, CEO of bourse operator Hong Kong Exchanges and Clearing (HKEX) , said on the opening day of the three-day HSBC Global Investment Summit 2025 in Hong Kong. Thanks to recent listing reforms , HKEX is ready to support biotechnology and other technology firms in raising funds in Hong Kong, even if some of them have not yet earned any income, she said during a panel discussion. 'Hong Kong, where many institutional investors and sovereign funds trade, can provide the long-term funding needed by these start-ups to provide more jaw-dropping technology breakthroughs in future,' she said. Li Yimei, CEO of China Asset Management, said many investors were investing for short-term returns, so the Chinese government recently called on insurance companies to invest more in stocks to provide long-term funding for these start-ups. Advertisement 'For investors, it is the beginning of a long-term journey to invest in China's innovation story, yielding benefits in the future,' she said. 'They need to be patient as many of these technology developments need huge sums of investment for many years to achieve a breakthrough. But [ artificial intelligence start-up] DeepSeek has proven that Chinese start-ups have the ability to deliver technological breakthroughs.'
South China Morning Post
23-03-2025
- Business
- South China Morning Post
Top Hong Kong women CEOs talk about the beloved school that fuelled their success
When Bonnie Chan Yiting interviewed for the top job at Hong Kong Stock Exchanges and Clearing (HKEX), she recited a lyric from her school song 'to home, to country, to the world' to showcase the 'service mindset' that her alma mater instilled in her. Advertisement In fact, Chan used it in two successful interviews – one for the CEO position and the other for the head of listing position when she returned to the city's bourse in January 2020, after about a decade specialising in capital markets law at Davis Polk & Wardwell. 'It is very seldom that one would refer to the school hymn during an interview, but I did,' Chan said earlier this month at a symposium to mark the centenary celebration of Maryknoll Convent School. 'I told them the school taught me a service mindset [and] that where there is an opportunity, we should pay back. And I think at that time, I reached a point in my career that I really wanted to pay back.' The line in the school song – 'to home, to country, to the world; we call this our first duty' – was in her thoughts when she decided in 2019 to quit private law practice amid months of social unrest to resume her career at the stock exchange. Maryknoll Convent School (Primary Section) on Waterloo Road, a stone's throw from Kadoorie Hill in Kowloon, Hong Kong. Photo: Franke Tsang Maryknoll Convent, an all-girls Catholic school, was founded in 1925 by the Maryknoll Sisters of St Dominic. It aims to instil trust and integrity in its students and an appreciation for cooperative teamwork and respect for others. They are taught to have moral, ethical and religious values, to be compassionate and capable of serving the society. Advertisement Cordelia Chung, chairwoman of the school foundation, said the symposium not only celebrated the school's legacy but also set the stage for continued dialogue and action on redefining beauty, empowering women, and building a more sustainable and inclusive future.
