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HKEx and SGX Cooperate on RMB Internationalisation and Connectivity

Hong Kong / Singapore, Dec 4, 2013 - (ACN Newswire) - Hong Kong Exchanges and Clearing Limited (HKEx) and Singapore Exchange (SGX) today agreed to cooperate in several areas of common interest, which include promoting the internationalisation of the Renminbi by exploring joint product development; enhancing connectivity through points of presence in each other's data centres; collaborating on technology development and regulatory issues; and may work closely in relation to extraterritorial market infrastructure regulation impacting the Asian region.

The cooperation underlines the growing importance of regional dialogue on topical issues and opportunities in an industry where rapid advancements in market technologies, the impact of supra-national regulations and the international evolution of the offshore Renminbi market are on the agenda for market operators, regulators and participants alike.

HKEx Chief Executive Charles Li and SGX CEO Magnus Bocker signed a memorandum of understanding on the collaboration in Singapore today.

Mr Li said, "This MOU allows us to build on Hong Kong's position as the premier offshore Renminbi centre by developing closer links with Singapore and helping regional investors deploy a growing pool of investable offshore Renminbi. We are also very pleased to establish a framework for cooperation with SGX on global regulatory issues and technology development, two critical areas for exchanges."

Mr Bocker said, "Our collaboration with HKEx, through new products and services available on both exchanges, is yet another example how the Asian Gateway enables easier access to Chinese capital markets. By including regulatory collaboration in this partnership, we are paving the way for Asian markets to have a more prominent and unified voice regarding global developments and regulatory reforms."

About Hong Kong Exchanges and Clearing (HKEx)

HKEx Group is a leading operator of exchanges and clearing houses, and one of the world's largest exchange groups by market capitalisation. The Group includes HKEx, the company that operates Hong Kong's securities and derivatives markets and is the frontline regulator of companies listed in Hong Kong. In addition, HKEx provides clearing and settlement services through its clearing houses. The Group also owns the London Metal Exchange, the world's premier base metals market, and is an equal joint-venture partner with the Shanghai and Shenzhen stock exchanges in China Exchanges Services Company, which develops cross-border indices based on products traded on the three markets. For further information, please visit

About Singapore Exchange (SGX)

Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with more than 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.

In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a peerless Asian counterparty for the clearing of financial and commodity products. For more information, please visit

Source: Singapore Exchange (SGX)

Scott Sapp
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Cam MacMurchy
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Joan Lew
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