1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Hong Kong Exchanges and Clearing Limited
  6. News
  7. Summary
    388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

(388)
  Report
Delayed Quote. Delayed Hong Kong Stock Exchange - 05/20 04:08:13 am
336 HKD   +1.51%
05/19Hong Kong's New Listing Volume Plunges to Nine-Year Low on China Woes
MT
05/19Hong Kong new listings volume sinks to 9-year low on China slowdown
RE
05/09HKEX COO to Retire; Successors Named
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

EU gives itself three more years to end euro clearing reliance on London

01/18/2022 | 08:16am EDT
European Union flags fly outside the European Commission headquarters in Brussels

LONDON, Jan 18 (Reuters) - The European Union will extend permission for banks in the bloc to continue using clearing houses in London for a further three years from June while efforts to end "over-reliance" on Britain are stepped up, its financial services chief said on Tuesday.

The European Union wants to directly supervise clearing of euro-denominated derivatives and build up "autonomy" in its own capital market as Britain is no longer subject to the bloc's financial rules since Brexit.

Mairead McGuinness had already said last November https://www.reuters.com/world/uk/eu-give-city-london-reprieve-over-euro-clearing-2021-11-10 that such permission, known as equivalence, would be extended for an unspecified period from June 2022, when it is due to expire, to give more time to shift clearing from London to the continent.

"We are now consulting member states on this draft equivalence decision, which will take the form of an implementing act. We envisage to propose an extension of the equivalence decision of three years - until end June 2025," a spokesperson for McGuinness said.

Brussels has sought to persuade banks in the EU to relocate swathes of clearing from operators like London Stock Exchange Group, whose LCH arm clears about 90% of euro-denominated interest rate swaps or about 90 trillion euros, to Deutsche Boerse in Frankfurt but with little success.

Failing to extend clearing permission beyond June risked disrupting markets by forcing banks to rapidly close positions in London and reopen them elsewhere, a costly undertaking.

U.S.-based clearing houses have long-term EU equivalence and banks said they could shift clearing to New York rather than Frankfurt if forced to stop using London.

McGuinness said that in coming weeks she would also launch a public consultation on measures to make the bloc an attractive clearing hub, and on the supervisory arrangements for EU central counterparties (CCPs).

Banks have said they prefer using London because they can net positions across different currencies to save on capital, while Frankfurt largely focuses on just the euro.

Two industry bodies, the International Swaps and Derivatives Association and the Futures Industry Association, welcomed the early clarity on market access and said they would work with Brussels to make EU clearing more attractive.

"This public consultation will feed into a strategy on clearing to reduce in the medium term our over-reliance on UK CCPs," Mc Guinness' spokesperson said. (Reporting by Huw Jones; Editing by Louise Heavens, Pravin Char and Jonathan Oatis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.16% 0.66668 Delayed Quote.4.02%
BRITISH POUND / EURO (GBP/EUR) 0.41% 1.18285 Delayed Quote.-0.94%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.10% 0.738122 Delayed Quote.6.42%
CME GROUP INC. 1.03% 192.11 Delayed Quote.-16.77%
DEUTSCHE BÖRSE AG 2.04% 162.4 Delayed Quote.8.19%
EURO / BRITISH POUND (EUR/GBP) -0.45% 0.8451 Delayed Quote.0.98%
EURONEXT N.V. 3.16% 78.9 Real-time Quote.-16.19%
HONG KONG EXCHANGES AND CLEARING LIMITED 1.51% 336 Delayed Quote.-27.32%
INDIAN RUPEE / EURO (INR/EUR) -0.22% 0.012176 Delayed Quote.4.12%
LONDON STOCK EXCHANGE PLC 1.09% 7244 Delayed Quote.3.41%
ON SEMICONDUCTOR CORPORATION 0.70% 56.46 Delayed Quote.-17.45%
US DOLLAR / EURO (USD/EUR) 0.22% 0.947508 Delayed Quote.8.56%
All news about HONG KONG EXCHANGES AND CLEARING LIMITED
05/19Hong Kong's New Listing Volume Plunges to Nine-Year Low on China Woes
MT
05/19Hong Kong new listings volume sinks to 9-year low on China slowdown
RE
05/09HKEX COO to Retire; Successors Named
MT
05/06Hong Kong Exchanges and Clearing Limited Announces Executive Changes
CI
05/04London Metal Exchange bars Russian lead from its market
RE
04/28Nomura Adjusts Hong Kong Exchanges and Clearing's Price Target to HK$441.1 From HK$457...
MT
04/27HONG KONG EXCHANGES AND CLEARING : Poll Results of 2022 Annual General Meeting and Re-appo..
PU
04/27HONG KONG EXCHANGES AND CLEARING : Re-appointment of Chairmanpdf
PU
04/27TRANSCRIPT : Hong Kong Exchanges and Clearing Limited, Q1 2022 Earnings Call, Apr 27, 2022
CI
04/27HONG KONG EXCHANGES AND CLEARING : LME Management Appointments
PU
More news
Analyst Recommendations on HONG KONG EXCHANGES AND CLEARING LIMITED
More recommendations
Financials
Sales 2022 20 986 M 2 674 M 2 674 M
Net income 2022 12 524 M 1 596 M 1 596 M
Net cash 2022 22 443 M 2 860 M 2 860 M
P/E ratio 2022 34,0x
Yield 2022 2,59%
Capitalization 425 B 54 175 M 54 175 M
EV / Sales 2022 19,2x
EV / Sales 2023 13,0x
Nbr of Employees 2 146
Free-Float 94,1%
Chart HONG KONG EXCHANGES AND CLEARING LIMITED
Duration : Period :
Hong Kong Exchanges and Clearing Limited Technical Analysis Chart | 388 | HK0388045442 | MarketScreener
Technical analysis trends HONG KONG EXCHANGES AND CLEARING LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Last Close Price 336,00 HKD
Average target price 430,04 HKD
Spread / Average Target 28,0%
EPS Revisions
Managers and Directors
Alejandro Nicolas Aguzin Chief Executive Officer & Executive Director
Chi Kin Tai President & Chief Operating Officer
Bik Yun Lau Group Chief Financial Officer
May Lung Cha Non-Executive Chairman
Chung Kwong Leung Group Chief Technology Officer
Sector and Competitors