Exchange Fund Bills and Notes Programme Launch of League Tables of Market Makers

The Hong Kong Monetary Authority (HKMA) announced today (Friday) the launch of the league tables of market makers (MMs) for the Exchange Fund Bills and Notes (EFBNs). It is the first time for the HKMA to compile such league tables.

The compilation of these league tables follows the recommendation arising from the review of the EFBN programme completed by the HKMA in October.

The league tables, one for Exchange Fund Bills (EFBs) and the other for Exchange Fund Notes (EFNs), list the ranking of the 12 MMs with the highest turnover in the respective markets over a six-month period between June and November 2006.

Mr Y.K. Choi, Deputy Chief Executive of the HKMA, said, "The EFBN programme is crucial to the development of the local debt market. The launch of league tables is a new initiative that aims to provide recognition to the top players, and should encourage trading activities in the EFBN market."

The league tables will be prepared every six months and published in early June and December based on the turnover from 1 December to 31 May and from 1 June to 30 November respectively.

League Tables of MMs for EFBNs
(Based on turnover data from 1 June to 30 November 2006)

The Top 12 MMs for EFBs

1^st HSBC
2^nd Bank of China (Hong Kong) Limited
3^rd Fubon Bank (Hong Kong) Limited
4^th Hang Seng Bank Limited
5^th Standard Bank Asia Limited
6^th Royal Bank of Scotland Plc
7^th Standard Chartered Bank (Hong Kong) Limited
8^th Societe Generale
9^th Banc of America Securities Asia limited
10^th DBS Bank (Hong Kong) Limited
11^th Wing Lung Bank Limited
12^th Dah Sing Bank Limited

The Top 12 MMs for EFNs

1^st HSBC
2^nd Societe Generale
3^rd BNP Paribas
4^th Standard Chartered Bank (Hong Kong) Limited
5^th Hang Seng Bank Limited
6^th Royal Bank of Scotland Plc
7^th UBS AG
8^th DBS Bank (Hong Kong) Limited
9^th Standard Bank Asia Limited
10^th Calyon
11^th Fubon Bank (Hong Kong) Limited
12^th Deutsche Bank Aktiengesellschaft

For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Ying-ying Cheng, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
15 December 2006