Market participants in Hong Kong should prepare for the
introduction of a more streamlined listing process, the Hong
Kong stock exchange (HKEx) has said.
The HKEx listing head, Mark Dickens told delegates at this
weeks IFLR Asia Capital Markets Forum that the Hong Kong
exchange had a very archaic way of dealing with shares.
Our central clearing system was wonderful in 1991 but
it needs updating, he said.
The exchange would be working to improve the Hong Kong
depositary receipts (HDR) listing process, in particular, in
order to encourage more enthusiasm in the product, he said.
The predilection of companies listing here to keep
home listing rules causes major agony for our clearing house,
and adds about four months to each listing, he said.
People should really give serious consideration to
simplifying transactions by using HDRs.
Working to address a huge communication...