OREANDA-NEWS. Hong Kong Exchanges and Clearing Limited (HKEX) and Korea Exchange (KRX) today (Tuesday) signed a non-binding letter of intent (LOI) to explore the cross-listing of their equity derivatives in each other's market.  The equity derivatives under consideration include, but are not limited to, stock index futures and options and single stock futures and options offered in local currency.

Roger Lee, HKEX’s Head of Markets, and Kyungsoo Choi, Chief Executive Officer of KRX signed the LOI during a ceremony in Hong Kong hosted by HKEX.  Other senior representatives of HKEX and KRX attended the ceremony and witnessed the signing.

"Equity derivatives are an important strength of HKEX and we look forward to exploring closer collaboration with KRX, one of Asia's leading exchange companies," said HKEX Chief Executive Charles Li.  "Cross-listing of our equity derivatives would create new trading and risk management opportunities for investors in Hong Kong and Korea."

"The cross-listing between KRX and HKEX will open up significant opportunities, as the trading hours largely overlap.  Investors will be able to trade the cross-listed products in the same way that they transact local products," said Kyungsoo Choi, Chief Executive Officer of KRX.