Speech by CE at the foundation stone laying ceremony for Data Centre of HKEx (English only)(with photos/video)

Speech by CE at the foundation stone laying ceremony for Data Centre of HKEx (English only)(with photos/video)
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    Following is the speech by the Chief Executive, Mr Donald Tsang, at the foundation stone laying ceremony for the Data Centre of Hong Kong Exchanges and Clearing Limited at Tseung Kwan O Industrial Estate, Tseung Kwan O, this afternoon (July 11):

Ron (Arculli), Charles (Li), distinguished guests, ladies and gentlemen,

    Today indeed I am very honoured to be witness to this foundation stone laying ceremony of the Hong Kong Exchanges and Clearing Limited (HKEx).

    The performance of the HKEx is a key to Hong Kong's reputation as a global financial centre.

    The Next Generation Data Centre (NGDC) will help accelerate the Exchange's business growth and sharpen its competitiveness throughout the world.

    This project highlights the vision and expectations of the HKEx.

    In the current competitive environment, economies around the world are making huge investments in the latest information technology. As the world leader for IPO funds raised and one of the most capitalised stock markets, Hong Kong must stay ahead of the game.

    The NGDC will meet the very highest international standards for reliability. It will improve efficiency by consolidating the current operations under one roof. The system will increase the trading capacity 10-fold to 30,000 orders per second. It could also be further scaled up. The centre will also be built to the highest environmental standards.

    Through various overseas road shows and visits, we will continue to promote the Hong Kong stock market as a premier capital-raising centre.

    The number of overseas listings in Hong Kong is beginning to take off. I am confident that this is the tip of a very large potential market for Hong Kong.

    The HKEx and the Securities and Futures Commission are reviewing the Joint Policy Statement Regarding the Listing of Overseas Companies. The HKEx is also reviewing the regime for secondary listing.

    All these send a powerful message to Mainland and overseas companies that Hong Kong means business.

    Supported by the latest state-of-the-art technology, I am confident that the HKEx will be able to meet the current and future challenges in this competitive industry.

    This foundation stone laying ceremony is another milestone in the development of the HKEx. It represents another feather in Hong Kong's cap as a global financial centre in the Asian time zone. We must keep up the good work.

    Thank you.

Ends/Monday, July 11, 2011
Issued at HKT 16:25

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