HKEX urged to cut data fees

Business | Staff reporter 14 Jan 2021

Christopher Cheung Wah-fung, the legislator for financial services, suggested Hong Kong Exchanges and Clearing (0388) lower or cancel the fees collected from market data vendors, as local small and medium brokers are facing operating difficulties.

The fees that HKEX charges market data vendors are higher than other major bourses in New York, Japan, and London, Cheung said.

Market shares of small and medium brokers have fallen to 8 percent in 2019 from 36 percent in 1997, Cheung said.

Cheung said he had met HKEX interim chief executive Calvin Tai Chi-kin to discuss the issue. He expected a second meeting with Tai.

Market data fees rose 2.38 percent year-on-year to HK$472 million for the six months ended June 30 last year, according to HKEX's interim report.

HKEX said any changes on the current mode should undergo prudent and careful studies as the market data segment involves information transparency, depth and fairness.

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