HKEX Eyeing FIC Push with Advisory Panel

Hong Kong Exchanges and Clearing (HKEX) has announced the establishment of a FIC advisory panel, a body established to support the group’s further development in the fixed-income and currency (FIC) business.

The panel will be chaired by HKEX co-head of markets, Glenda So, and will advise the exchange group on its FIC strategy and facilitate the introduction of new FIC products and services. Commencing on 1 June 2024, HKEX says the panel will consist of HKEX representatives and external FIC market leaders as members.

The new panel will have 12 members, including Jacky Mak, head of FIC product at the exchange, as well as Wilfred Yiu, deputy CEO and Co-COO. Other members will come from institutions such as Invesco, Nuode Asset Management, Standard Chartered and ICBC.

Currently trading in HKEX’s FX products is largely limited to CNH and INR, in the first 11 months of 2023, the exchange group traded just under 8,000,000 contracts (contract size is $100,000) in its CNH futures.

In fixed income, HKEX’s OTC Clear is a key element of Swap Connect, a mutual access programme between Hong Kong and mainland China’s interbank interest rate swap markets, which was unveiled in May 2023 and went live in November of that year.