HKEX boss Nicolas Aguzin eyes digital trading platform, ETF connect schemes and overseas offices as part of growth plan
- The digital trading platform, set to launch later this year, will focus on launching products in the areas of digital assets and megatrends
- HKEX also plans to expand its international footprint while continuing to strengthen its China connector role
Hong Kong Exchanges and Clearing (HKEX), the operator of Asia’s third largest stock market, will launch a new digital trading platform this year as part of a comprehensive strategy unveiled by its chief executive.
The new platform – Diamond – will initially trade environmental, social and governance-related products such as carbon-emission related contracts and also look at digital assets and megatrends.
“We’re very excited about the opportunities in digital and the whole transformation that we’re observing around the world,” said Nicolas Aguzin, who unveiled a blueprint of the bourse’s future development to investors on Tuesday.
“Digital assets today represent a total market capitalisation of about US$3 trillion. And we’ve talked about the potential of the market in terms of trading in the future, it could be up to US$100 trillion [in annual volumes] for the whole market in the next 10 years.”
The bourse, however, has not yet decided on introducing the trading of cryptocurrencies.
Apart from the planned launch of the new digital trading platform, HKEX is also looking to strengthen its role as a super connector between mainland China and the rest of the world.
Aguzin said the HKEX will launch exchange traded fund (ETF) connect schemes with bourses in Shanghai and Shenzhen to complement the existing stock and bond connect cross-border trading schemes. A study has been launched to introduce more yuan products and A-shares futures products, he added.