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China Exchanges Services Company launches

30 October 2012  |  1819 views  |  0 Source: China Exchanges Services Company

China Exchanges Services Company Limited (CESC), a joint venture of Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange and Shenzhen Stock Exchange, officially commenced operations today (Tuesday).

CESC Co-Chairmen Jiang Jianren and Mao Zhirong hosted a cocktail reception in Hong Kong this evening to mark the joint venture's official launch. Joining the event were government officials of the Mainland and Hong Kong and senior representatives from the China Securities Regulatory Commission, Hong Kong's Securities and Futures Commission and the three stock exchanges. Other guests included market participants, fund managers and executives of information vendors.

CESC's principal business includes the compilation of cross-border indices based on products traded on the three markets, the development of information standards and industry classifications, and the development and franchising of products, including index-linked and other equity derivatives. The business will also include market promotion, customer services, technical services, infrastructure development and more.

"The launch of CESC brings together the experience and expertise of three of China's largest and most important equity exchanges to link China's financial markets with the world," said CESC Chief Executive Bryan Chan. "With the staunch support of the three shareholder exchanges, CESC aims to contribute to the further internationalisation of China's capital markets and to provide global investors with exposure to the world's second-largest economy by developing a series of cross-border indices and related financial products."

CESC is currently working on real-time cross-border indices and related financial products. CESC will announce the launch date of its products and services in due course. 

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