(HKEX), which operates the city’s stock exchange, has published its unaudited consolidated results for the first quarter of 2019, ended March 31, 2019, this Wednesday.
Following a overall, the exchange operator managed to report an uptick across all of its key financial indicators, although the growth was low. During the period, revenue and other income was HKD 4.3 billion ($547.9 million). This is higher by 3 per cent when compared with the first quarter of 2018.
According to the report, the increase in revenue and other income was driven by an increase in net investment income and record high quarterly revenue and other income from Stock Connect. This offset a reduction in trading and clearing fees which was the result of lower cash market turnover and derivatives trading volume.
Operating expenses during the first quarter also noted an increase during the first quarter of 2019. In fact, operating expenses climbed by 4 per cent from HKD 935 million in Q1 of 2018 to HKD 970 million in the most recent quarter.
Source: HKEX
RMB Currency Derivatives Grow in Q1 of 2019 for HKEX
In the first quarter of this year, Renminbi (RMB) currency derivative volumes continued to grow thanks to an expanding market participant base which offset the relatively subdued volatility of the USD/CNH currency pair.
The during the quarter was 8,573 contract. When comparing this against the previous quarter, it is higher by 33 per cent. On an annual comparison, it is up by 63 per cent.
“In January 2019, two new liquidity providers were recruited for USD/CNH futures calendar spread contracts, which will facilitate efficient calendar rolling activities of market participants. Going forward, HKEX also plans to explore the addition of new interest rate derivatives to cater for the growing hedging demand of Bond Connect investors,” the statement said.
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