The Hong Kong Futures Exchange (HKFE) said today that Chief Executive Robert B. (Randy) Gilmore has resigned. Mr. Gilmore's resignation is effective tomorrow. HKFE General Counsel William D. Grossman has been named Acting Chief Executive.

"My decision to resign was due to personal reasons," Mr. Gilmore said. "I'd like to thank the Exchange staff for their hard work and dedication. I've appreciated the opportunity to work with my fellow Board members, and I wish the Exchange continued success in the future."

HKFE Chairman Dr. Geoffrey Yeh said: "We appreciate Randy's contributions to the Exchange and we wish him all the best in his future endeavours."

Dr. Yeh added: "The Exchange will continue to work toward the successful migration of Hang Seng Index Futures and Options to electronic trading to advance the interests of the Exchange and our Members, and to enhance Hong Kong's position as a leading international financial centre. The Exchange is also looking forward to the successful completion of our planned merger with stock exchange, which promises to yield many benefits, and to the bright future that lies ahead."

The Hong Kong Futures Exchange is a leading futures and options marketplace in the Asia Pacific Region, with a membership of over 130 companies, including a number of major international institutions. The Exchange is actively diversifying its product base, which now includes currency, interest rate and equity-based products.

For further enquiries, please contact HKFE Corporate Communications: Mr. Mark Tung on 2842 9448 or Ms. Chiu Yeung on 2842 9322.