Hong Kong Exchanges & Clearing Ltd introduced its new A50 futures contract in October, tracking the MSCI China A 50 Connect Index. SGX’s deep ecosystem in China A50 index futures can’t be replicated overnight, said Michael Syn, head of equities at SGX. While it has been losing some market share to Hong Kong, Singapore’s A50 futures volume has been rising. Hong Kong’s contracts, meanwhile, have yet to start contributing to earnings given the fee waiver, Bloomberg Intelligence’s Wong said. But Bruce Pang, head of macro and strategy research at China Renaissance Securities Hong Kong Ltd, a brokerage in the city, said that’s only a matter of time.
