HKEx Information Services Limited (HKEx-IS) and SSE Infonet Limited, the information business subsidiaries of HKEx and Shanghai Stock Exchange (SSE), today (Monday) signed an agreement for a market data collaboration programme.
The agreement was signed by SSE Infonet Chief Executive Officer Wang Yong and HKEx-IS Director Bryan Chan in the presence of SSE General Manager Zhang Yujun, HKEx Chairman Ronald Arculli and Chief Executive Paul Chow. Other senior officials from both parties also attended the signing ceremony.
The objective of the collaboration programme is to assist investors who have interest in shares of issuers that have listed in both Hong Kong and Shanghai by raising the transparency of the securities trading in the two markets.
Under the programme, both parties are entitled to redistribute the other party's basic real-time market data for the companies with listings in the two markets to their own authorised information vendors (IVs) for onward transmission to the IVs' subscribers for internal display purposes.
The collaboration programme will come into effect on 1 January 2009 and will be subject to a review in two years. The usual exchange fees for market data are waived for the two parties, their IVs and their IVs' market data subscribers under the collaboration programme.
The programme is expected to benefit investors in both markets and help increase the transparency of the securities trading in the two markets. At the end of September this year, there were 48 companies listed in both Hong Kong and Shanghai, and the group's Hong Kong-listed shares collectively represented 29 per cent of the Stock Exchange's turnover and 23 per cent of its market capitalisation.
"The agreement will increase the transparency of the Mainland and Hong Kong markets further, enhance the market data service quality of the two exchanges, provide more complete market information and better service to investors and also further promote the cooperation between the two exchanges," said SSE General Manager Zhang Yujun.
"The market data collaboration agreement that we entered into today with SSE marks another step towards the closer integration and cooperation of the Mainland and Hong Kong markets. We believe the collaboration programme will benefit investors of the two markets and will be welcomed by them," said HKEx Chief Executive Paul Chow.
Programme information is posted in the Investor section of the HKEx website under Real-time Data.