Listing |
1. |
Complete GEM review and related market development – The review of GEM will be taken forward and the proposals subjected to market consultation and subsequently implemented, as appropriate. |
2. |
Implement ‘statutory backing’ – The Stock Exchange will prepare for the embodiment of certain key Listing Rules into statute by the Government, including proposals on any necessary realignment of the Listing function and modifications to the existing operational arrangements. |
3. |
Open the equity listing regime to issuers from overseas jurisdictions – HKEx will facilitate the listing of issuers from a broader range of jurisdictions than at present, and promote this in overseas markets. |
Trading |
4. |
Improve trading rights regime – A review will be conducted to bring the regime more into line with international practice and better facilitate access to HKEx’s markets. |
5. |
Address barriers to Cash Market trading – A review will be conducted and efforts made to address existing barriers to expansion of the Cash Market. |
6. |
Address barriers to Derivatives Market trading – A review will be conducted and efforts made to address existing barriers to expansion of the Derivatives Market. |
7. |
Introduce further Mainland-related and renminbi-denominated products – HKEx will seek to develop and promote derivative products, including RMB futures contracts, that capture local and global interest in Mainland China. In the Cash Market, HKEx will endeavour to facilitate intermediaries’ product development efforts by providing an appropriate and flexible market structure. |
8. |
Explore new product and service areas in order to diversify the product range and develop an Asian focus. Consultants will be engaged as appropriate to study the feasibility and potential for trading commodity futures and climate-related products in Hong Kong. |
Clearing |
9. |
Facilitate overseas-based Clearing Participants – A review will be conducted and appropriate mechanisms will be considered to facilitate access by firms based overseas. The facility will be promoted in overseas markets. |
10. |
Improve Investor Participant Account Service and Stock Segregated Account Service – To better protect investor assets and facilitate the further development of the brokerage industry, the HKEx will seek to further improve its Investor Participant Account Service and Stock Segregated Account with Statement Service. |
Corporate |
11. |
Strengthen the accountability regime within HKEx – The conclusions of the consultancy review conducted in mid-2006 will be implemented and a regime established that links management rewards more directly to the achievement of business results. An improved succession plan for senior positions will be implemented progressively. Appropriate resources will be allocated for staff development and training to build talent. |
12. |
Review HKEx organisation structure and deployment of resources – In order to support the strategic themes of the plan, a review will be conducted to realign the structure and human resources towards business expansion and customer service. |
13. |
Further develop HKEx Management Information System (MIS) – To support improved and profitable service provision, HKEx’s customer-related MIS and finance MIS will be further developed. |
14. |
Work towards consolidation of HKEx offices and data centres – A review will be conducted, and steps taken to consolidate the various offices and data centres to the extent feasible. |
15. |
Review fee structure – HKEx will review its fees and charges so as to achieve better alignment with value added and international practice. |
IT |
16.
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Review HKEx IT systems and services for possible efficiency improvement – While maintaining existing high levels of system reliability and security, a review will be conducted to seek further improvements in the efficiency of applications, IT service offerings and the time-to-market of IT-enabled functions, and the findings implemented as appropriate. |