“Dear Santa” isn’t how investors typically expect the Hong Kong Stock Exchange’s chief executive to begin a letter.

So let’s indulge the merry pen of Charles Li. On his blog, Mr. Li tells Mr. Claus of Hong Kong Exchange’s gift-deserving good works, starting with his own. “I have shed some weight this year!…Two full pounds,” thanks mainly to soccer. “Did you know we played the Shenzhen Stock Exchange…and held them to a 1-1 draw?” Mr. Li writes about the Hong Kong-owned London Metal Exchange and an unpopular fee hike, as if it were a cafe. “We announced we would raise the food prices…but we’re confident people will still fill the seats because our food quality is getting even better.” The Shanghai-Hong Kong Stock Connect is a “sparkling new bridge” though he lamented the lack of traffic. “We’ll keep working on it next year, I promise.” Alas, “not everything was perfect this year.” A “special guest”—surely Alibaba —“decided to have a party at someone else’s house.”

Left unsaid was the 32% rally in Hong Kong Exchange’s own shares. Mr. Li smartly realizes Santa doesn’t like greedy kids.