Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce that it plans to open an office in Riyadh in 2025.
The office will now aim to strengthen HKEX’s Middle East presence as the Group looks to promote connectivity between China and the Gulf region, aiming to facilitate opportunities for its customers as well as issuers.
Situated in Saudi Arabia’s financial hub, the Riyadh office will enable HKEX to connect with investors and companies in one of the “most dynamic” economic hubs, providing support to help them access Hong Kong’s financial products ecosystem.
HKEX has made progress in its engagements in the Middle East, with collaboration and partnerships.
These include signing a Memorandum of Understanding with the Saudi Tadawul Group, welcoming the Saudi-focused Exchange-Traded Fund (ETF), and adding the Saudi Exchange, Abu Dhabi Securities Exchange, and Dubai Financial Market to HKEX’s list of Recognised Stock Exchanges.
These initiatives demonstrate HKEX’s commitment to “fostering collaboration and enhancing market accessibility between China and the Middle East.”
Additionally, the listing of two ETFs tracking Hong Kong-listed equities this week on the Saudi Exchange marks a key milestone in the capital market connectivity between Hong Kong and Saudi Arabia, and builds “on the listing of the first Saudi-focused ETF in Hong Kong last November.”
HKEX has continued to deepen strategic partnerships with the Middle East:
- HKEX brought the first FII PRIORITY Asia and Capital Markets Forum (CMF) to Hong Kong to connect investors and corporates between the two regions
- Signed MOU with Saudi Tadawul Group (STG) in 2023 to explore collaboration in cross listings, exchange products and ESG
- Added Saudi Exchange (2023), Abu Dhabi Securities Exchange and Dubai Financial Market (2024), to the list of Recognised Stock Exchanges (RSE), opening the door for Middle Eastern companies to seek secondary listings in Hong Kong
- Welcomed Asia Pacific’s first and the world’s biggest Saudi-focused ETF listing in Hong Kong (2023)
- The London Metal Exchange, a subsidiary of HKEX, approved a warehouse delivery point for copper and zinc in the Red Sea port city of Jeddah
As covered, Hong Kong Exchanges and Clearing Limited (HKEX) is a publicly-traded company and one of the global exchange groups, offering a “range of equity, derivative, commodity, fixed income and other financial markets, products and services, including the London Metal Exchange.”
As a superconnector and gateway between East and West, HKEX facilitates the two-way flow of “capital, ideas and dialogue between China and the rest of the world, through its pioneering Connect schemes, increasingly diversified product ecosystem and its deep, liquid and international markets.”
HKEX is said to be a “purpose-led” organization which, across its business and through the work of HKEX Foundation, seeks to “connect, promote and progress its markets and the communities it supports for the prosperity of all.”
