Hong Kong Exchanges and Clearing (HKEX) is a major exchange group and operates a range of equity, commodity, fixed income and currency markets. HKEX is a leading IPO market. It is Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, offering regional and international investors access to Asia’s markets. HKEX is also a leader in metals trading through its wholly owned subsidiaries, the London Metal Exchange (LME), LME Clear, and Qianhai Mercantile Exchange (QME) in China. HKEX launched the Shanghai-Hong Kong Stock Connect programme in 2014, Shenzhen Connect in 2016, and Bond Connect in 2017.