The Financial Secretary has appointed Raymond Or to succeed Peter Wong as a member of the HK Exchanges & Clearing Risk Management Committee.

His tenure will be until January 19, 2006, and Mr Or is appointed in his capacity as HK Interbank Clearing Chairman.

The committee was established in March 2000 with the statutory role of formulating policies on risk management matters relating to activities of HKEx and its subsidiaries for consideration by the HKEx board.

The committee is chaired by HKEx Chairman Charles Lee. Other serving members are Bill Kwok, Henry Fan, Mark Dickens, James Lau, Professor Lam Kin and Leung Ka-chai.

The Secretary for Financial Services & the Treasury Frederick Ma thanked Mr Wong for his valuable contribution to the committee over the last two years.