HKEx operates the centralized securities and derivatives markets in Hong Kong; it is responsible for the front line regulation of listed issuers and for market surveillance.  HKEx provides issuers with listing and securities trading services, participants with access to trading and clearing services, and investors with a regulated trading venue supported by information services.

HKEx's business and operations functions are under the classification of primary market, secondary market and support services as follows:

Primary Market

1. Listing
2. Issuer Marketing

Secondary Market

1. Clearing
2. Cash Market
3. Derivatives Market  
4. Information Services
5. Risk Management 

Support Services  

1. Information Technology
2. Finance and Administration
3. Corporate Communications  
4. Human Resources  
5. Internal Audit
6. Legal Services
7. Research and Corporate Development 
8. Secretarial Services

Branch

1. Beijing Representative Office   

The functions under primary market, support services and the Beijing Representative Office will report to the Chief Executive while all secondary market functions will report to the Chief Operating Officer.

CHIEF EXECUTIVE

Mr Charles LI

CHIEF OPERATING OFFICER

Mr Gerald GREINER

Listing Division

Head : Mr Mark DICKENS

IPO Transactions Department

The IPO Transactions Department is responsible for processing applications for new equity listings including transactions by listed companies deemed to be new listings.  In addition, it is also responsible for handling pre-IPO enquiries, assessing whether an applicant has met the basic listing requirements as set out in the Listing Rules and vetting prospectuses.

Compliance & Monitoring Department

The Compliance & Monitoring Department is responsible for monitoring compliance with the continuing obligations of the Listing Rules by listed companies and processing their applications for listing of further equity and debt issues.  In addition, it is also responsible for vetting circulars and certain company announcements, handling complaints and enquiries and requests for clarification of the application of the Listing Rules.

Listing Enforcement Department

The Listing Enforcement Department is responsible for investigating possible breaches of the Listing Rules, initiating and conducting disciplinary proceedings before the Listing (Disciplinary) Committee, issuing caution and warning letters as well as handling complaints alleging breaches of the Listing Rules.

Policy & Support Department

The Policy & Support Department is responsible for providing secretariat support to the Listing Committee, Listing (Review) Committee, Listing Appeals Committee and Listing (Disciplinary) Committee.  It also provides advice, staff training and technical support on accounting, PRC and legal matters, liaises with the China Securities Regulatory Commission and other Mainland China authorities, co-ordinates policy initiatives and developments, and drafts policy consultation papers and the text of Listing Rule amendments.  In addition, it is responsible for co-ordinating and delivering our Mainland China training and market education programmes, monitoring local and international market and regulatory developments as well as providing operational support in relation to systems and administration needs.

Listing Operations Department

The Listing Operations Department is responsible for supporting the operational implementation of various listing-related initiatives including the Abolition of Paid Announcement project; coordinating a cross-divisional project on the establishment of a corporate action and listed company information database; and administer the A+H Working Group with the Mainland exchanges.  It is responsible for managing and enhancing the operations supporting issuer public disclosure filings.  In addition, it is responsible for managing and enhancing the operations, regulation, and policies concerning issuance of debt and structured products. 

Issuer Marketing Division

Head : Mr Lawrence FOK

The Issuer Marketing Division is responsible for marketing to potential listing applicants in Hong Kong, Mainland China and other jurisdictions. 

Clearing Division

Head : Mr Derrick FUNG

Cash Clearing Operations Department

The Cash Clearing Operations Department is responsible for handling clearing and settlement of securities traded on the cash market and providing Clearing and Investor Participants administration for the cash market.

Derivatives Clearing Operations Department

The Derivatives Clearing Operations Department is responsible for handling clearing and settlement of products traded on the derivatives market and providing Clearing Participants administration for the derivatives market.

Depository & Nominee Services Department

The Depository & Nominee Services Department is responsible for providing central depository and custody services, common nominee services as well as stock admission administration.

Clearing Support Services Department

The Clearing Support Services Department is responsible for clearing product development and project management of the division, and providing hotline and training services to investors and Clearing Participants.

Cash Market Department

Head : Mr Eric YIP 

The Cash Market Department is responsible for serving and recruiting cash market exchange participants and structured product issuers, managing the business and operations for the trading of cash market products such as equities, derivative warrants, callable bull/bear contracts, debt securities, exchange traded funds and other listed equity instruments, and developing the rules and policies for secondary market trading.  It administers and monitors the cash trading system, and ensures that the trading environment is transparent, fair, orderly and efficient according to the relevant rules and regulations established by the exchange.  It also administers the admissions for exchange and clearing participants.

Derivatives Market Department

Head : Mr Calvin TAI

The Derivatives Market Department is responsible for serving and recruiting derivatives market exchange participants, managing the business and operations for the trading of futures and options on various underlying assets or indices such as equity indices, equities, interest rate and fixed income products, and developing the rules and policies for secondary market trading.  It operates and monitors the derivatives trading system, and ensures that the trading environment is transparent, fair, orderly and efficient according to the relevant rules and regulations established by the exchange.

Information Services Department

Head : Mr Bryan CHAN

The Information Services Department is responsible for servicing licensed information vendors, managing sales and business development of market data, providing useful market information to the investing public via the Investment Service Centre of the HKEx website and maintaining the internal market databases for the securities and the derivatives markets.

Risk Management Division

Head : Mr Kevin KING

The Risk Management Division is responsible for supervising the risk management functions of HKEx.  It is organised into the following departments:  

Cash Clearing Risk Management Department

The Cash Clearing Risk Management Department is responsible for developing and implementing risk management strategies for all cash clearing services.

Derivatives Clearing Risk Management Department

The Derivatives Clearing Risk Management Department is responsible for developing and implementing risk management strategies for all derivatives clearing services.

Enterprise Risk Management and Surveillance Department

The Enterprise Risk Management and Surveillance Department is responsible for developing and implementing HKEx enterprise-wide risk management framework, monitoring Participant financial and operational capability and monitoring Participant compliance with trading/clearing house rules.  It also provides direct support to the HKEx Risk Management Committee, a statutory committee established under the Securities and Futures Ordinance.

Information Technology Division

Head : Mr Alfred WONG

Clearing System Development & Support Department

The Clearing System Development & Support Department is responsible for providing continuous, effective and reliable clearing systems and facilities for the clearing, settlement and risk management of equity market (CCASS/3) and derivatives market (DCASS) clearing as well as development, maintaining and supporting relevant application systems used by clearing participants and investor participants.

Exchange System Development & Support Department

The Exchange System Development & Support Department is responsible for providing continuous, effective and reliable trading systems and facilities for the trading of equity market (AMS) and derivatives market (HKATS), the market information dissemination of derivatives market (PRS) as well as developing, maintaining and supporting relevant application systems used by market participants and information vendors. 

E-Business & OA Department

The E-Business & OA Department is responsible for the development and support for HKEx website technology infrastructure to support the business initiatives of HKEx, as well as providing effective and reliable desktop computing and office automation technologies to support the business operations of HKEx. 

IT Infrastructure & Operations Department

The IT Infrastructure & Operations Department is responsible for the continuous, reliable, and efficient implementation and operation of HKEx IT infrastructure and systems.  It operates and delivers mission critical trading systems, clearing & settlement systems, market data dissemination systems, internet and e-mail based systems for the Cash and the Derivatives markets.  In the provision of effective and quality IT services, IT Infrastructure & Operations Department is organized into six operational sections namely, (1) Computer Operations, (2) Network Operations & Engineering, (3) Technical Services, (4) Infrastructure & Facility Administration, (5) Change Management & Security Administration, and (6) Infrastructure Development Projects.

Listing System Development & Support Department

The Listing System Development & Support Department is responsible for providing continuous, effective and reliable systems and facilities for Listing Division operations and issuers' corresponding activities as well as developing, maintaining and supporting relevant application systems used by Listing issuers and Listing internal users, e.g.  E-Submission and Document Management System, Listing Issuers & Case Database System and etc.

Market Data & Corporate Systems Department

The Market Data & Corporate Systems Department is responsible for providing continuous, effective and reliable dissemination of market data in the equity market (MDS) as well as developing, maintaining and supporting relevant application systems used by information vendors and HKEx internal users, e.g. Issuer Information Feed System, Management Information Systems, HR & Financial Systems and Market Surveillance Systems. 

Quality Assurance & Security Management Section

The Quality Assurance & Security Management Section is responsible for improving the processes and security controls of the IT Division based on formal quality and security management frameworks.  It initiates and facilitates the development of IT Division policies and standards, sets improvement targets, and monitors IT activities and results to ensure compliance to the policies, standards, procedures and improvement targets. 

Corporate Communications Department

Head : Mr Henry LAW

The Corporate Communications Department operates as a two-way conduit between HKEx and the public. It keeps the public informed of new policies and developments at HKEx as well as in the securities and derivatives markets, and promotes the image and services of HKEx.  It coordinates investor services, media relations, advertising, publication matters and corporate events for HKEx and handles public enquiries and complaints.  It is also responsible for the development of corporate international relations.   

Human Resources Department

Head : Ms Brenda YEN

The Human Resources Department is responsible for formulating and implementing human resources philosophies, policies, procedures, guidelines and systems so as to meet the changing conditions of HKEx and the markets.  It aims at maintaining a productive and efficient pool of human resources so as to achieve HKEx's objectives, motivating employees through recognition and reward as well as developing employees' potential and improving their performance through training and development programmes.  

Internal Audit Department

Head : Mr Pont CHIU

The Internal Audit Department is responsible for conducting independent reviews and appraisals of HKEx's activities to support the Audit Committee in ensuring adequate oversight of internal controls in HKEx.  The reviews include financial, operational, compliance and information technology related audits and evaluations.  In addition, through these reviews, the Internal Audit function can help safeguard company assets, minimize operational risks, achieve corporate long term goals, enhance shareholder value and promote best practices of corporate governance.     

Legal Services Department

Head : Ms Mary KAO

The Legal Services Department is responsible for providing legal advisory services relating to the business and affairs of HKEx (other than listing matters handled by the Listing Division).  Its functions include advising on the legality of projects undertaken by the group, preparing and reviewing contracts to which any group member is a party, amending and advising on the provisions of the rules of the Stock Exchange, the Futures Exchange and their respective clearing houses, advising on effective case management of any litigation and arbitration involving any group member, and advising on the statutory and regulatory requirements applicable to operational and administrative matters of the group.

Research & Corporate Development Department

Head : Mr Matthew HARRISON

The Research & Corporate Development Department conducts research and surveys on the securities and derivatives markets in Hong Kong, Mainland China and overseas to support the development of HKEx's markets.  The Department also operates the Exchange Library for HKEx staff and Exchange Participants. 

Secretarial Services Department

Head : Mr Joseph MAU

The Secretarial Services Department is responsible for providing company secretarial services and pursuing the highest level of corporate governance for HKEx.  It ensures satisfactory arrangements and procedures to secure compliance with the relevant statutory and regulatory requirements and advises the Board on compliance matters.  In addition, it also manages liaison with relevant regulatory authorities and provides administrative support to the Compensation Committee. 

Beijing Representative Office

Chief Representative : Mr REN Guang Ming

The Beijing Representative Office, which also supervises the Guangzhou and Shanghai Special Representatives, is responsible for liaising with Mainland government officials and authorities, organising public seminars and conferences about the stock market of Hong Kong.