The Board of Directors of Hong Kong Exchanges and Clearing Limited (HKEx) has today resolved to establish a Panel Member Nomination Committee (PMNC) for the purpose of identifying and selecting nominees for the Cash Market Consultative Panel (CMCP), Derivatives Market Consultative Panel (DMCP) and Clearing Consultative Panel (CCP) (the Consultative Panels) for the Board's consideration and approval. 

The PMNC consists of five members, including the chairmen of the Consultative Panels and two Directors appointed by the Board.  The list of members is as follows:

1.      Mr Fong Hup 
2.      Dr Kwok Chi Piu, Bill (Chairman of the DMCP) 
3.      Mr Lee Jor Hung, Dannis (Chairman of CMCP)
4.      Mr Lee Kwan Ho, Vincent Marshall (Chairman of CCP) 
5.      Mr Wong Sai Hung, Oscar

The terms of reference of the PMNC are posted on HKEx's corporate website.  

Currently, each of the Consultative Panels consists of two Directors of HKEx and eight members selected from representatives of market participants and industry experts.  The service term of the existing members (other than the two Directors) of the Consultative Panels will expire on 30 April 2006. 

The PMNC will invite nominations from Participants of the exchanges and clearing houses and make recommendations to the Board for its approval. HKEx will soon issue a circular to Participants to provide further information about the nomination process.