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The WFE is the association of 52 regulated exchanges around the world. We develop and promote standards in markets.
Member Exchanges
Hong Kong Exchanges and Clearing
Tel : 852 2522 1122
Fax : 852 2295 3106
Representatives
Chairman : Mr. Ronald Arculli
Chief Executive : Mr. Charles Li
2010 holidays
January - 1 | February - 15, 16 | April - 2, 5, 6 | May - 21 | July - 1, 1 | June - 16 | September - 23 | October - 1 | December - 27
- * - Half trading day (Short trading day) |
- ** - To replace a public holiday that falls on a Sunday |
- *** - Close early |
- **** - Will close at 1.00pm
- ο - Subject to the appearence of the moon |
- † - Subject to change |
- (I) - Weekends in Iran : Every Thursday & Friday
- (II) - Weekends in Israel : Every Friday & Saturday |
- (III) - In Malaysia, Saturday & Sunday are non-trading days
Types of Securities Traded | Name of Trading Systems (cash and derivatives) | Trading Hours |
Cash Market
Equity
Derivatives warrants
Callable bull/bear contracts
Listed equity linked instruments
Exchange traded funds
Unit trusts / mutual funds
Bonds
| Cash Market
AMS/3, the Third Generation Automatic Order Matching and Execution System
| Cash Market
Trading is conducted on Monday to Friday (excluding public holidays) at the following times:
Auction Session Pre-opening Session from 9:30 to 10:00
Continuous Trading Session Morning Session from 10:00 to 12:30;
Extended Morning Session from 12:30 to 14:30 . (limited to selected products); Afternoon Session from 14:30 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 (Futures & Options)
Hang Seng Index Futures Mini H-shares Index Futures | Hong Kong Futures Automatic Trading Systems (HKATS) |
Pre-Market Opening Period |
Stock Futures | HKATS | Trading Hours |
Stock Options | HKATS | Trading Hours |
HIBOR Futures | HKATS | Trading Hours |
Three-year Exchange Fund Note (EFN) Futures | HKATS | Trading Hours |
Gold Futures | HKATS | Trading Hours |
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, Stock Futures, EFN Futures and Gold 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
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
HSI Futures and Options - HK$10.00
H-shares Index Futures and Options - HK$3.5
Mini HSI Futures - HK$3.5
Mini HSI Options - HK$2.00
Mni H-shares Index Futures - HK$2.00
Stock Futures - HK$ 3.50
Stock Options - HK$ 3.00 - Tier 1 / HK$ 1.00 - Tier 2
HIBOR Futures (1 Month and 3 Months) - HK$5.00
EFN Futures - HK$6.00
Gold Futures - US$1.3
Taxes on Dividends, Interests
NA
2009 Share ownership thresholds (%)
Individuals and corporations who are interested in 5% or more of any class of voting shares in a listed corporation
or directors and chief executives of a listed corporation must disclose their interest to the Exchange.
Short selling (Yes / No)
Yes
Short selling conditions (if any)
Covered short selling allowed on designated securities only