HKEx Posts Solid Trading Metrics as LME Reports Bump in Volumes

RMB Currency Futures also achieved a steadfast level of growth, broadly higher than the extent of overall volumes.

Hong Kong Exchanges and Clearing Limited (HKEx) has disclosed its market metrics for the period between 1 January to 15 December 2016, which saw a strong performance across its securities and derivatives business, according to a HKEx statement.

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During the reported period, HKEx saw total futures turnover coming in at 80,950,484 contracts, which was good for a 10 percent YoY growth from the full ­year record high of 73,462,212 contracts set back in 2015.

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The exchange’s volumes benefited from increased trading volumes at the London Metals Exchange (LME) amidst lower trading turnover in its securities and derivatives market. As Finance Magnates reported last month, revenue and other income dropped to $8.47 billion for Q3 2016 from $10.60 billion in Q3 2015, representing a fall of 20 percent compared to the prior period. However, after excluding exceptional gains of $514 million in Q3 2015, revenue and other income decreased by 16 percent.

Average daily trading at the operator of Hong Kong stock exchange was also lower by 42 percent for the first nine months of 2016 compared with the period a year ago when extreme volatility in mainland Chinese markets drove strong volumes on the Hong Kong bourse.

Delving into specific product types and instruments, the total trading volume of Hang Seng Index Futures in 2016 mounted a rise of 35.3 per cent against its 2011 counterpart. This strength was further reinforced by a strong uptick in its securitised derivatives turnover which was the world’s highest for 10 consecutive years, according to data from the World Federation of Exchanges.

Finally, the exchange’s RMB Currency Futures also achieved a steadfast level of growth, broadly higher than the extent of its overall trading figures. In particular, HKEx unveiled the turnover of USD/CNH Futures from 1 January to 15 December 2016 at 495,925 contracts, yielding an increase of 89 percent YoY from the full­ year record high of 262,433 contracts in 2015.

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