By Martin Mou

Hong Kong Exchanges & Clearing Ltd. said its third-quarter net profit rose sharply from a year earlier, as its revenue hit a quarterly record on the back of robust trading volumes.

Net profit jumped 52% from a year ago to 3.35 billion Hong Kong dollars (US$432 million), while revenue, including investment income, expanded to HK$5.31 billion from HK$3.99 billion, the exchange operator said Wednesday.

However, the increase in trading and clearing fees from higher headline average daily turnover, which rose 24% from the second quarter, was partly offset by lower net investment income, the company said.

In the primary market, the Hong Kong bourse ranked third globally by funds raised in initial public offerings for the first nine months of the year, it said.

Hong Kong has hosted a number of high-profile secondary listings by Chinese tech companies whose shares are already trading in New York, including online-retailer JD.com and gaming company NetEase. A slate of biotech companies also chose to list in Hong Kong this year.

"With robust trading volumes, a strong IPO pipeline, and an expanding product portfolio, I am confident that HKEX will play an increasingly important role in global markets," Chief Executive Charles Li said.

Write to Martin Mou at martin.mou@wsj.com

(END) Dow Jones Newswires

11-11-20 0001ET