HONG KONG - Hong Kong Exchanges and Clearing Limited (HKEX) announced on Thursday that it will open an office in London in the first half of 2023 to further expand the group's international reach, promoting greater global connectivity and facilitating opportunities for HKEX's customers and issuers around the world.

The new office will promote the attractiveness of HKEX's international equities franchise, its exclusive connectivity with Chinese mainland's capital markets and its rapidly expanding derivatives product suite, the HKEX said in a statement.

The new office will also provide the group's European clients with on-the-ground expertise and insight on Hong Kong's capital market opportunities and innovations.

The opening of the London office will make it easier for the HKEX to connect with investors and other market participants during the European working day and enable the group to build stronger ties with its clients throughout the region, the statement said.

The office will complement HKEX's existing international reach from its offices in Beijing, New York, Shanghai and Singapore.

"We are delighted to be opening HKEX's first European office in London, one of the world's most dynamic and vibrant financial, business and cultural cities," said HKEX Chief Executive Officer Nicolas Aguzin.

Aguzin said that HKEX has strong ties with the financial community in London through the London Metal Exchange, and the new office will further strengthen HKEX's commitment to supporting the ambitions of its broad range of customers around the world.

HKEX subsidiaries, the Stock Exchange of Hong Kong Limited and the Hong Kong Futures Exchange Limited, this week were each confirmed as Recognized Overseas Investment Exchanges by the Financial Conduct Authority, a British financial regulatory body. The preparatory work to open their London offices is also ongoing.