A security officer wearing a protective mask stands behind a door next to signage for Hong Kong Exchanges AND Clearing Ltd at the Exchange Square complex in Hong Kong, Aug 19, 2020. (ROY LIU / BLOOMBERG)

Hong Kong Exchanges and Clearing Ltd plans to establish a representative office in New York to market its offerings in the US.

The new office will comprise of only about five staff, people familiar with the plans said, asking not to be identified discussing private information. The exchange will need regulatory licenses and plans to open the office as early as next year, the people said.

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The exchange is also expanding its ties to the Chinese mainland, most recently launching futures on Chinese shares traded in Shanghai

The opening comes after Nicholas Aguzin, a former JPMorgan Chase & Co banker, took over as chief executive officer this year. He was given the remit of both tightening controls at home and reviving the bourse’s bid to expand internationally two years after the failed acquisition of the London Stock Exchange. 

The exchange is also expanding its ties to the Chinese mainland, most recently launching futures on Chinese shares traded in Shanghai. 

The New York office would mark its first presence in the US. The exchange also has offices in Shanghai, Beijing, Singapore and London, and owns the London Metal Exchange. 

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The government of the Hong Kong Special Administrative Region owns about 6 percent of HKEX, appoints the chairman and half of the board. 

The exchange has had plans to open new marketing and client coverage hubs in North America and Europe to expand its international footprint and customer engagement, improve client coverage and promote the Hong Kong markets.