HKTDC regional director, Americas, Stephen Wong with Nasdaq managing director Gregg Hernandez (right) and senior vice president Stuart Patterson at the December 15 ceremony to ring Nasdaq's closing bell. Copyright 2005, The Nasdaq Stock Market Inc.

It was a proud moment for US Hong Kong trade relations when staff of the Hong Kong Trade Development Council (HKTDC) gathered in New York's Times Square to ring Nasdaq's closing bell on December 15.

Established in 1971 as the world's first electronic stock market, NASDAQ serves millions of investors around the globe. Today, almost 5,000 companies trade their securities on NASDAQ.

The message "NASDAQ welcomes Hong Kong Trade Development Council" was flashed onto an eight-story tall video screen - the largest in the world. Referred to as the "Tower", it is visible to viewers throughout Times Square - an area that draws an estimated 1.5 million people.

Present at the official opening were Gregg Hernandez, NASDAQ managing director, Stuart Patterson, NASDAQ senior vice president and Stephen Wong, HKTDC's regional director, Americas.

Mr Patterson, who oversees the Asia Pacific region, noted that the HKTDC is an organisation that has a well-deserved reputation for facilitating international trade opportunities for Hong Kong companies and their overseas partners, particularly for small and medium sized enterprises.

Mr Wong said that NASDAQ was a good vehicle to reach out to US businesses and pointed out that 17 Hong Kong companies and 25 Chinese mainland companies trade on NASDAQ.

"Trade between the US and Hong Kong is among the safest, surest and most lucrative financial decisions anyone can make," Mr Wong said.