Hong Kong Exchanges and Clearing

www.hkex.com.hk

Tel : 852 2522 1122

Fax : 852 2295 3106

 

Representatives

Chairman : Mr. C K Chow

Chief Executive : Mr. Charles Li

 

 

Types of Securities Traded

Name of Trading Systems

(cash and derivatives)

 

Trading Hours

Cash Market

 

Cash Market

Cash Market

Equity securities

Depositary receipts  

Stapled securities

Derivatives warrants

Callable bull/bear contracts

Listed equity linked instruments

Exchange traded funds

Unit trusts / mutual funds

Debt securities

 

AMS/3, the Third Generation Automatic Order Matching and Execution System

 

 

 

Trading is conducted on Monday to Friday (excluding public holidays) at the following times:

 

Auction Session 
Pre-opening Session from 9:00 to 9:30 

 

Continuous Trading Session 
Morning Session from 9:30 to 12:00;

Extended Morning Session from 12:00 to 13:00. (limited to selected products);

Afternoon Session from 13:00 to 16:00 

 

There is no Extended Morning Session and Afternoon Session on the eves of Christmas, New Year and Lunar New Year. There will be no Extended Morning Session if there is no Morning Session.

 

 

 

 

Derivatives Market

 

Derivatives Market

Derivatives Market

Hang Seng Index Futures*2

Hang Seng Index Options (including Flexible Index Options)

Mini Hang Seng Index Futures*

Mini Hang Seng Index Options

H-shares Index Futures*2

H-shares Index Options (including Flexible Index Options)

Mini H-shares Index Futures

Hong Kong Futures Automatic Trading Systems (HKATS)

Pre-Market Opening Period

8:45 - 9:15

12:30 - 13:00

(*Applicable to HSI, MHI, HHI Futures)

 

Regular Trading Hours

9:15 - 12:00

13:00 - 16:15

 

17 :00 - 23:00

(2After-Hours Trading Session applicable to HSI and HHI Futures)

 

(2There is no After-Hours Trading Session on 27 May, 24 December and 31 December)

 

Trading Hours on Last Trading Day

9:15 - 12:00

13:00 - 16:00

 

HSI Dividend Futures

HSCEI Dividend Futures

HKATS

Trading Hours

9:15 - 12:00

13:00 - 16:15

 

HSI Volatility Index Futures

HKATS

Trading Hours

9:30 - 12:00

13:00 - 16:15

 

Trading Hours on Last Trading Day

9:30 - 12:00

13:00 - 16:00

 

BRICS Futures

 

- IBOVESPA Futures

- MICEX Index Futures

- S&P BSE SENSEX Index Futures

- FTSE/JSE Top40 Futures

HKATS

Trading Hours

9:15 - 16:15

 

Stock Futures

Stock Options

HKATS

Trading Hours

9:30 - 12:00

13:00 - 16:00

 

HIBOR Futures

One-Month HIBOR Futures

Three-Month HIBOR Futures

HKATS

Trading Hours

8:30 - 12:00

13:30 - 17:00

 

Trading Hours on Last Trading Day

8:30 - 11:00

 

Three-year Exchange Fund Note (EFN) Futures

HKATS

Trading Hours

8:30 - 12:00

13:30 - 17:00

 

Trading Hours on Last Trading Day

8:30 - 11:00

 

Gold Futures

HKATS

Trading Hours

8:30 - 17:00

 

RMB Currency Futures - USD/CNH Futures

HKATS

Trading Hours

9:00 - 16:15

 

Trading Hours on Last Trading Day

9:00 - 11:00

 

Supervisory Body

The Securities and Futures Commission

Name of Clearing & Settlement Organization

Cash Market

Hong Kong Securities Clearing Company Limited (A subsidiary of HKEx)

Derivatives Market

Hong Kong Futures Exchange Clearing Corporation Limited (A subsidiary of HKEx)

Products: Index Futures and Options, HIBOR Futures, BRICS Futures, Stock Futures, EFN Futures, Gold Futures and RMB Currency Futures

SEHK Options Clearing House Limited (A subsidiary of HKEx)

Product: Stock Options

Settlement Cycle

Cash Market

All Exchange trades are required to be settled on T+2.

Derivatives Market

Margin Trading (Cash Settlement): T + 1

Physical Exercise of Stock Options: T + 2

Name of Central Securities Depository

Cash Market

Hong Kong Securities Clearing Company Limited (A subsidiary of HKEx)

Derivatives Market

Hong Kong Securities Clearing Company Limited (A subsidiary of HKEx)
(on exercise of stock options) 

Commissions on Transactions levied by Exchange

Cash Market

A Trading Fee of 0.005% per side of the consideration of a transaction (rounded to the nearest cent) is payable to the Exchange. Also, a trading tariff of HK$0.50 is payable to the Exchange on each and every purchase or sale transaction.

Derivatives Market ( fee per contract)

HSI Futures and Options (including Flexible Index Options) – HK$10.00  

H-shares Index Futures and Options (including Flexible Index Options) – HK$3.50
Mini HSI Futures – HK$3.50
Mini HSI Options – HK$2.00
Mini H-shares Index Futures – HK$2.00
HSI Dividend Futures – HK$3.00
HSCEI Dividend Futures – HK$1.50
HSI Volatility Index Futures – HK$10.00
BRICS Futures – IBOVESPA Futures – HK $10.00 / MICEX Index Futures, S&P BSE SENSEX Index Futures and FTSE/JSE Top40 Futures – HK$5.00

Stock Futures – HK$ 3.50 
Stock Options Tier 1 – HK$ 3.00 /  Tier 2 – HK$ 1.00 / Tier 3 – HK$ 0.50
HIBOR Futures (1 Month and 3 Months) - HK$5.00
EFN Futures – HK$6.00
Gold Futures – USD1.30

RMB Currency Futures – RMB8.00

Taxes on Dividends, Interests

NA 

2013 Share ownership thresholds (%)

Part XV of the Securities and Futures Ordinance requires corporate insiders to give notice to The Stock Exchange of Hong Kong Limited and the listed corporation concerned on the occurrence of certain events: (i) Substantial shareholders – that is individuals and corporations who hold an interest of 5% or more of any class of voting shares in a listed corporation – must disclose their interests, and short positions, in voting shares of the listed corporation; and (ii) Directors and chief executives of a listed corporation must disclose their interests, and short positions in any shares in a listed corporation (or any of its associated corporations).

Short selling (Yes / No)

Yes

Short selling conditions (if any)

Covered short selling allowed on designated securities only

Holiday
25th December
26th December
1st January
30th January
31st January
3rd February
18th April
21st April
1st May
6th May
2nd June
1st July
9th September
1st October
2nd October
24th December
25th December
26th December
31st December
This page was last updated on: 11/19/2013 - 12:22