The Hong Kong Futures Exchange is one of the fastest-growing exchanges in the world. Set up in 1976, it provides an efficient and diversified futures and options market for local and international investors to transfer risks when taking advantage of Asia's exciting growth. In November, it launched rolling foreign exchange instruments and chairman Frank Wong said it was considering introducing physical delivery of currency contracts and more new products, based on interest rates. The exchange has incorporated world-class systems and innovative financial products to meet evolving investor needs. Its flagship products are Hang Seng Index Futures and Options. Aided by the most up-to-date risk management system, developed after the 1987 stock market crash, the HKFE and its wholly-owned subsidiary, HKFE Clearing Corporation, are able to monitor trading positions and conduct risk analysis on a real-time basis. Operations of the exchange are regulated by the Securities and Futures Commission.