Destiny lies with voters

WHAT is the point of having an election if the results are already known? The answer is that even if democracy does not exist, it has to be perceived to exist.

In the case of the elections for the Council of the Stock Exchange of Hong Kong, the system has developed some kinks. The existing system ensures adequate representation of the diverse elements that make up the exchange's membership but cannot ensure the credibility of the voters.

If the small brokers had it their own way, they would vote for fellow small brokers to represent their interests on the council. That is exactly what happened. Unsurprisingly, the larger international brokerages decried the system and urged for representation. This they duly received.

The system now in place ensures small brokers have to elect representatives from the large international houses and vice-versa. The trouble is the small brokers control which representatives from the international houses get in, as well as which of their own are elected.

The solution to the election problem does not lie exclusively with the exchange, which has provided a system that could work if properly used.

Instead, it lies with the voters. Exchange members who find themselves being wooed by those with vested interests should have the presence of mind to listen dispassionately and then vote whichever way they want.