HKEx as a stock is quite the exception. Let's see when the last time was other exchange operators stocks moved 5-6% intraday something which is observed quite frequently with HKEx. But you are right this is a point aside...HKEx has not much to offer in terms of product innovation or instrument breath. But then that is not a surprise... it's hard to find a single Asian exchange that lead the way in anything. HKEx has refused to permit listing stocks with multi class structures (though it does not prohibit such) and only now as they see much much revenue they are passing up they start to court Alibaba and Co again.
What else is there? A lot of stocks with rampant insider trading...warrants. ..which leverage insider trading schemes, a few index futures with dismal liquidity...options on the indexes with even less liquidity...in summary...given the huge potential they had and still have they are lazy fucks without much imagination and even less motivation. The stock connect between mainland and hk can hardly be called innovative. Meanwhile Japan exchanges have consolidated and upgraded to provide top not HFT capabilities (without judging it's merits) provide colocation and proximity hosting solutions and other features...
HKEx imho is the typical example and perfect representation of the average mindset of local hk people (whether managers or employees or business owners): as long as there is enough dumb money flying around there is no need to work hard and be too competitive. I don't agree with such work ethics but that is an entirely different story. Bottom line is HKEx can afford to be complacent for the time being because there is enough dumb Chinese money moving around...
What else is there? A lot of stocks with rampant insider trading...warrants. ..which leverage insider trading schemes, a few index futures with dismal liquidity...options on the indexes with even less liquidity...in summary...given the huge potential they had and still have they are lazy fucks without much imagination and even less motivation. The stock connect between mainland and hk can hardly be called innovative. Meanwhile Japan exchanges have consolidated and upgraded to provide top not HFT capabilities (without judging it's merits) provide colocation and proximity hosting solutions and other features...
HKEx imho is the typical example and perfect representation of the average mindset of local hk people (whether managers or employees or business owners): as long as there is enough dumb money flying around there is no need to work hard and be too competitive. I don't agree with such work ethics but that is an entirely different story. Bottom line is HKEx can afford to be complacent for the time being because there is enough dumb Chinese money moving around...
