Two-dimensional colloidal nanoplatelets (NPLs), owing to the atomic-level control of their confined direction (i.e., no inhomogeneous broadening), have demonstrated improved photoluminescence (PL) line widths for cadmium chalcogenide-based nanocrystals. Here we use cation exchange to synthesize mercury chalcogenide NPLs. Appropriate control of reaction kinetics enables the 2D morphology of the NPLs to be maintained during the cation exchange. HgTe and HgSe NPLs have significantly improved optical features compared to existing materials with similar band gaps. The PL line width of HgTe NPLs (40 nm full width at half-maximum, centered at 880 nm) is a factor of 2 smaller than typical PbS nanocrystals (NCs) emitting at the same wavelength. The PL has a lifetime of 50 ns, almost 2 orders of magnitude shorter than small PbS colloidal quantum dots (CQDs), and a quantum yield of ∼10%, almost 2 orders of magnitude shorter than small PbS colloidal quantum dots (CQDs). These materials are promising for a large variety of applications spanning from telecommunications to the design of colloidal topological insulators.