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2005 Annual Results “Record-setting Year, Record Results” Paul Chow Chief Executive, Hong Kong Exchanges and Clearing Limited 8 March 2006.

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Presentation on theme: "2005 Annual Results “Record-setting Year, Record Results” Paul Chow Chief Executive, Hong Kong Exchanges and Clearing Limited 8 March 2006."— Presentation transcript:

1 2005 Annual Results “Record-setting Year, Record Results” Paul Chow Chief Executive, Hong Kong Exchanges and Clearing Limited 8 March 2006

2 2 Annual Results Announcement Record Market Activities

3 3 Annual Results Announcement Key Market Statistics

4 4 Annual Results Announcement Record Performance from Record Market Turnover and Stringent Cost Control

5 5 Annual Results Announcement Record Profit Since Merger

6 6 Annual Results Announcement Income Rose in Line with Market Activities

7 7 Annual Results Announcement 2005 Investment Income

8 8 Annual Results Announcement Cost Pressure Mitigated by Cost Control

9 9 Annual Results Announcement First Half vs Second Half

10 Major Initiatives – Building a Quality Market Enhance Listing Regulation  Revamp listing decision-making structure (phase one in May)  Continue review of GEM  Further enhance corporate governance  Support establishment of Financial Reporting Council  Implement abolition of paid announcements and strengthen issuer information on HKEx website (by year-end)  Continue work towards the establishment of statutory listing requirements  Establish China Affairs Team

11 Major initiatives - Building a Quality Market Strengthen Market Infrastructure  Upgrade software of HKATS Network Gateways (Q2-Q3)  Implement phase 2 of network consolidation with migration of CCASS network to SDNet (June)  Replace hardware and software of AMS/3 Open Gateway and Multi-Work Station (Q2/2006 – Q1/2007)  Feasibility study and prepare for migration of AMS/3 for a higher version of server technology (Q3 – Q4)

12 Major Initiatives - Building a Quality Market Service Market Users  Launch and develop Callable Bull/Bear Contracts market (H1)  Strengthen derivative warrant market, including web-based resource centre (Q2)  Review market-maker model for derivatives market  Introduce long-dated index options (March)  Expand combo order functions to HSI Options and review possible introduction of tailor-made combo orders in derivatives market (March)  Reduce trading spreads of shares traded below $30 (phase 2 in July)  Complete Trading Hall renovation with Exchange Exhibition Hall opening in late April

13 Major initiatives - Building a Quality Market Service Market Users  Harmonise collateral policies of the three clearing houses  Explore Third Party Clearing  Further enhance CCASS nominee services  Study expanding admission of Investor Participants to CCASS

14 14 Thank you


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