Four providers of Leveraged and Inverse Products (L&I Products) listed a total of 16 products today on the Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), setting a new exchange record for the most L&I Product* listings in Asia on a single day.
Leveraged Products and Inverse Products are designed to provide two times (2x) and negative one time (-1x) the daily performance of their benchmark respectively. Today’s listings are the first L&I Products on the Exchange that track the Hang Seng Index or Hang Seng China Enterprises Index. Details are in the table in the Appendix.
There are now 29 L&I Products listed on the Exchange by five providers. They include providers from Hong Kong, Mainland China and South Korea.
"L&I Products are part of our strategy to expand our markets in Hong Kong with more products on underlying assets from the Mainland, Hong Kong and overseas," said HKEX Chief Executive Charles Li. "We see the first listings on the Hang Seng Index and the H-shares index as a major step in the development of our L&I Products market. As Hong Kong continues to establish itself as Asia's exchange-traded product hub, providing a diverse product offering is important in meeting the needs of our investors. We will continue to work with the industry to advance exchange-traded products in Hong Kong".
The introduction of the new L&I Products received a strong reception from the market, with a total turnover of nearly $350 million on their first day.
Further information on L&I Products is available on the HKEX website.
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L&I Products are commonly known as Leveraged and/or Inverse ETFs (Exchange Traded Funds) in some overseas markets. |
Appendix
L&I Products Listed in Hong Kong on 14 March 2017