Online brokers are pinning their hopes on the Securities and Futures Commission (SFC) to urge Hong Kong Exchanges and Clearing (HKEx) to cut charges for providing stock quotation information to clients.
Hong Kong Association of Online Brokers chairman Peter Wong Shiu-hoi said that after its previous vain attempt to persuade the exchange to cut fees, the organisation was lobbying the SFC to play an intermediary role.
'There is an obvious conflict of interest between the exchange and online brokers, so we need a third party to help settle our differences,' Mr Wong said.
He also said the SFC appeared to be more willing to listen to industry opinion.
For example, after the association's lobbying, the SFC amended its rules allowing investors to open online trading accounts without a face-to-face meeting.
The dispute between HKEx and online brokers began after brokerages increasingly jumped into online trading.
As the provision of real-time stock quotes is a key service in online trading, it has enabled HKEx to enjoy increasing sales of its stock information to brokers in recent years.