The Hong Kong Futures Exchange (HKFE) today (Monday) became a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx) together with The Stock Exchange of Hong Kong and Hong Kong Securities Clearing Company.

Effective today, all board and committee members of the HKFE immediately before the merger retired. A new board comprising Chairman Mr. Kwong Ki-chi (Chief Executive of HKEx), Mr. Alec Tsui Yiu-wa (Chief Operating Officer of HKEx) and Mr. Ivers Riley (Chief Executive of HKFE) has been appointed. New HKFE committees will be formed.

As a result of the merger, ownership of shares in the HKFE has been separated from access to its trading facilities. With immediate effect, HKFE shareholders become holders of trading rights and Members before the merger are now deemed as Exchange Participants. Holders of a trading right are eligible to trade on the HKFE subject to requirements.

The rules and regulations of the HKFE have been amended with immediate effect to reflect the above changes.

It is envisaged that the HKFE rules will be further reviewed in order to implement the market reforms and make HKEx one of the world's leading exchanges.

Despite the rule changes, the current trading and settlement arrangements of the HKFE remain unchanged.

For further enquiries, please contact HKFE Corporate Communications: Ms. June Wong on 2842 9448 or Mr. Scott Sapp on 2842 9421.