Hong Kong Exchanges & Clearing is reportedly planning to open a New York office as part of its broader plans for internationalization.
HKEX plans to establish a New York office to market its offerings in the U.S., according to a «Bloomberg» report citing unnamed sources, with a headcount for around five staff.
Officials at the bourse don’t expect the «modest office opening» to meet any political opposition, the report added.
Foreign Expansion
The new office plans occur in the midst of HKEX ongoing ambitions to expand abroad two years after a failed acquisition of the London Stock Exchange (LSE).
LSE cited the Hong Kong bourse's «unusual» structure of allowing a non-majority shareholder to appoint the chairman and half of the board as the reason to reject a $36.6 billion bid in 2019.
If successful, New York would be the HKEX’ first presence in the U.S. in addition to offices in Shanghai, Beijing, Singapore and London, where it owns the London Metal Exchange.
