HKEX Reports Solid FY 2018 Financial Reports, Boosted by Surge in Trading and IPOs

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.

HKEX Reports Solid FY 2018 Financial Reports, Boosted by Surge in Trading and IPOs

February 27, 2019

HKEXHong Kong stock exchange operator, Hong Kong Exchanges and Clearing Ltd (HKEX) has published its FY 2018 financial reports, showing record profits during the period. The numbers were boosted by strong trading, clearing fees and the surge in IPOs.

The revenue and other income reached the highest ever value for HKEX for the period ending on 31st Dec 2018, coming in at HK$15.9 billion in 2018, an increase of 20 per cent year-over-year. The net profits reached HK$9.31 billion ($1.19 billion) from HK$7.4 billion in 2017.

Further breaking up the revenue numbers, the listing fees increased by 63 per cent to HK822 million, while trading fees rose 64 per cent to HK 2.5 billion, year-over-year.

While presenting the result, HKEX CEO Charles Li and Chairman Laura Cha have given a grim outlook for the year 2019 because of geopolitical and economic uncertainties. The exchange operator also revealed its three-year strategy in which it will continue to broaden its focus away from equity trading. 

Charles Li in a statement said:

“The market outlook for 2019 looks set to be more challenging, but we are confident that HKEX is very well placed to continue to be the financial gateway to and from China, that our business is strongly positioned to capitalise on growth opportunities and that we will continue to be globally attractive and competitive,”

“We intend to transform ourselves from being a leading global exchange not only by virtue of our size but also in terms of our product range, reach, global relevance, regulatory standards, market efficiency and technological innovation,”

While commenting on the result, Li said:

“This was an excellent year for the Company. Record volumes in our Cash Market, record volumes in our Derivatives Market and a world-leading IPO market that welcomed 218 companies, including 7 under our new listing chapters, resulted in a 26 per cent uplift in profit for the year.”

“With our continued focus on Fixed Income, Commodities and Currency (FICC) as well as innovative technologies, we successfully concluded our Strategic Plan 2016-2018 with a set of major achievements, putting us in an excellent position to embark on the next phase of our journey.”

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