HKEX Group is a leading operator of exchanges and clearing houses based in Hong Kong, the international financial centre in Asia, and a key player globally as one of the world’s largest exchange groups by market capitalisation.
HKEX Group operates the securities and derivatives markets and is the frontline regulator of listed companies in Hong Kong. The Group also owns The London Metal Exchange (LME) in the UK, the world's premier base metals market.
HKEX operates the only recognised stock market and futures market in Hong Kong through its wholly-owned subsidiaries, The Stock Exchange of Hong Kong Limited and Hong Kong Futures Exchange Limited. The Group also operates four clearing houses, which are the only recognised clearing houses in Hong Kong: Hong Kong Securities Clearing Company Limited (HKSCC), HKFE Clearing Corporation Limited (HKCC), The SEHK Options Clearing House Limited (SEOCH) and OTC Clearing Hong Kong Limited (OTC Clear). HKSCC, HKCC and SEOCH provide integrated clearing, settlement, depository and nominee activities to their participants, while OTC Clear provides clearing and settlement services for interest rate and foreign exchange derivatives traded over-the-counter to its members.
The Group has a global leadership position in base metals futures and options trading through LME. LME brings together participants from the physical industry and the financial community to create a robust and regulated market where there is always a buyer and a seller, where there is always a price and where there is always the opportunity to transfer or take on risk - 24 hours a day. LME Clear Limited is the clearing house for LME, which provides clearing and settlement services for all exchange contracts traded on LME. The Group also operates a commodity trading platform in Mainland China through Qianhai Mercantile Exchange Co., Ltd. (QME).
Commodity Pricing and Analysis Ltd (CPAL)
CPAL is a Dubai-based entity, incorporated in September 2025 in the Dubai International Financial Centre (DIFC), fully owned by HKEX Group. CPAL has been established to operate as a centre of excellence for commodity pricing and administration, interacting with other HKEX Group platforms (including the LME). CPAL represents a geographical diversification for HKEX Group, providing a new presence in a region which is increasingly central to global metals trading, further driving forward HKEX Group’s commitment to the GCC region.
The boards and committees of HKEX’s principal subsidiaries and their respective terms of reference are set out below.