Expansion of Stock Connects, New Derivatives Products, Commodities Are Key Growth Drivers for HKEx

Hong Kong Exchanges and Clearing, or HKEx, is the sole exchange operator in Hong Kong that provides trading, clearing, and settlement services of equity, derivative, and other financial products. Unlike the U.S. capital markets, which feature multiple exchanges offering trading of different financial products, HKEx has a monopoly position for trading equity and equity-related products in Hong Kong. As such, HKEx enjoys much higher operating margins and returns on invested capital.