HKEx reports 20% surge in profit for Q3

Also reports higher trading of shares and derivatives.

Hong Kong Exchanges & Clearing Ltd, the world’s second-biggest stock market operator by market value, said net income jumped 20% to HK$1.2 billion in the three months through Sept. 30 from HK$1 billion on-year.

The average daily value of stocks traded on the exchange rose 19% while the number of derivatives contracts bought and sold each day increased 18%.

The London Metal Exchange, which HKEx bought for US$2.2 billion in December 2012 to expand into commodities, contributed HK$318 million of profit in the first nine months of the year. Its earnings accounted for 9% of HKEx’s HK$3.5 billion profit in the period.

Funds raised through initial public offerings in Hong Kong increased 34% to HK$18.2 billion in Q3 on-year. The average daily value of shares bought and sold at HKEx rose 19% to HK$55.2 billion in Q3 on-year.