China Exchanges Services Company Limited (CESC)

China Exchanges Services Company Limited (CESC) is a joint venture formed in September 2012 by Hong Kong Exchanges and Clearing Limited (HKEx), the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) and jointly owned by the three organisations. The company’s aim is to develop cross-border indices based on products traded on the three markets, develop industry classifications for listed companies, create information standard and products, connect the rest of the world to the markets of HKEx, SSE and SZSE, and contribute to the internationalisation of China’s capital markets.

CESC launched its first index, the CES China 120 Index (CES 120), in December 2012 and two new indices under the CESC Cross Border Index Series in March 2013, the CES China A80 Index (CES A80) and the CES China HK Mainland Index (CES HKMI).

The CES A80 is the A-shares part of the CES 120 and is comprised of the 80 most liquid and large stocks trading on the SSE and SZSE. The CES HKMI is comprised of the Hong Kong-listed Mainland enterprises in the CES 120 and includes the 40 most liquid and large Mainland companies listed on HKEx.

In July 2014, CESC launched the CES China 280 Index, an index comprised of the next 200 largest A-share companies from the SSE and SZSE after the constituents of the CES A80 and the next 80 largest Hong Kong-listed Mainland enterprises after the constituents of the CES HKMI.

The first CESC index-linked product was the CES 120 Futures contract that commenced trading on HKEx in August 2013. Three Exchange Traded Funds on CESC indices also commenced trading at HKEx in the second half of 2013:

  • China AMC CES China A80 Index ETF
  • CSOP CES China A80 ETF
  • E Fund CES China 120 Index ETF

For further information on CESC, please visit its website at www.cesc.com

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