Thank you, Mr. Lee.

Good afternoon, Ladies and gentlemen

I am very honoured to be speaking to you as Chief Executive of Hong Kong Exchanges. And I am very pleased to note that the company has inherited the very strong management and operational teams of its constituent companies.

Globalisation of capital flows and rapid advances in technology are changing the business environment of exchanges. Their role will develop quickly and in new directions.

Mastery of technology will enable exchanges to compete more effectively in the new environment and enter into new business arenas. Over time, Hong Kong Exchanges will function more as a financial market portal, providing easy and secure access to the full range of its services for all market users.

I am very pleased to join Hong Kong Exchanges as it embarks on its challenging mission. Under the direction of the chairman and Board of Directors and with the combined strength of its staff members, Hong Kong Exchanges will strive to ensure that Hong Kong maintains its position at the forefront of international financial markets. Thank you.