Hong Kong Exchanges and Clearing Limited (HKEx) said Tuesday that HKEx and its former chief executive, Paul Chow, had both won the achievement awards granted by The Asian Banker.

According to a press release on its official website, HKEx won The Asian Banker Achievement Award for Markets and Exchanges, while Chow received The Asian Banker Leadership Achievement Award for Markets and Exchanges.

Naming HKEx the Exchange of the Year, The Asian Banker said HKEx outperformed its peers in many areas in 2009. Specifically, The Asian Banker said HKEx maintained high efficiency and profitability, and had healthy product growth.

The Singapore-based organization, which publishes The Asian Banker Journal, added a well defined 2007-2009 Strategic Plan served HKEx very well during the financial crisis period.

Chow, HKEx's chief executive between May 2003 and January 2010, demonstrated strong leadership and made significant contributions to his institution as well as the markets and exchanges industry, according to The Asian Banker.

After Chow became HKEx's chief executive in 2003, one of the most important tasks was to formulate a strategic plan for 2004- 2006 to guide the company's future development, The Asian Banker said.

The 2004-2006 plan, comprised of elements such as consolidation, market quality and an expanded relationship with Chinese mainland, helped HKEx build a strong foundation for future success, The Asian Banker added.

The Asian Banker is a provider of business intelligence in the financial services industry in the Asia-Pacific and Middle East regions.