Stronger Equity Volume Propels Hong Kong Exchanges' 3Q Results; The Exchange Remains Overvalued
Another quarter of buoyant capital markets globally underpinned strong equity trading volume for wide-moat Hong Kong Exchange and Clearing in the third quarter, propelling its net profit to HKD 5.5 billion. This compares with HKD 1.78 billion last quarter and HKD 1.5 billion the same period last year. The result was also supported by a recovery in commodities, or the London Metal Exchange, with average volume rising for all metal contracts in the quarter.Average daily turnover for the equity m...
Hong Kong Exchanges and Clearing is an exchange controller under the Securities and Futures Ordinance. Co. operates recognised stock and futures markets in Hong Kong. Co. also operates Hong Kong Securities Clearing Company Limited (HKSCC), HKFE Clearing Corporation Limited (HKCC), The SEHK Options Clearing House Limited (SEOCH) and OTC Clearing Hong Kong Limited (OTC Clear). HKSCC, HKCC and SEOCH provide clearing and settlement services, while OTC Clear provides OTC interest rate derivatives and non-deliverable forwards clearing and settlement services. Co.'s operating segment include: cash, equity & financial derivatives, commodities, clearing, and platform & infrastructure.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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