First Chapter - What is Shanghai-Hong Kong Stock Connect? Shanghai-Hong Kong Stock Connect is a securities trading and clearing links programme to
|
|
- Bridget Farmer
- 6 years ago
- Views:
Transcription
1 First Chapter - What is Shanghai-Hong Kong Stock Connect? Shanghai-Hong Kong Stock Connect is a securities trading and clearing links programme to be developed by Hong Kong Exchanges and Clearing Limited (HKEx), Shanghai Stock Exchange (SSE) and China Securities Depository and Clearing Corporation Limited (ChinaClear), aiming to achieve a breakthrough in mutual access between the Mainland and Hong Kong. Under Shanghai-Hong Kong Stock Connect, The Stock Exchange of Hong Kong Limited (SEHK) and SSE will establish mutual order-routing connectivity and related technical infrastructure to enable investors of their respective market to trade designated equity securities listed in the other s market. The Hong Kong Securities Clearing Company Limited (HKSCC) and ChinaClear will be responsible for the clearing, settlement and the provision of depository, nominee and other related services of the trades executed by their respective market participants and investors. 1.1 Illustration of Order Flow
2 1.2 Basic Information for Shanghai Hong Kong Stock Connect Northbound trading Southbound trading Participant All HK and overseas investors Mainland institutional investors and individual investors who hold an aggregate balance of more than RMB 500,000 in their securities and cash account Eligible stocks All the constituent stocks of the SSE 180 Index and SSE 380 Index, A shares with corresponding H shares listed on SEHK Constituent stocks of the Hang Seng Composite LargeCap Index and Hang Send Composite MidCap index, and H shares with corresponding A shares listed on SSE Excluding stocks Share under risk alert board Shares that are not traded in RMB A+H on other Mainland exchange Shares that are not traded in HKD Quota Aggregate Quota: RMB 300 billion Daily Quota: RMB 13 billion Aggregate Quota: RMB 250 billion Daily Quota: RMB 10.5 billion No. of eligible stocks About 570 About 270 Trading hours Opening Call Auction: 09:15 09:25 Continuous Auction: 09:30 11:30 / 13:00 15:00 Allow order input 5 minutes prior to opening of each trading session Pre-opening period: 09:00 09:30 Continuous trading period: 09:30-12:00 13:00-16:00 Trading and settlement Currency RMB Trade with HKD Settle in RMB Order Types Limit orders only pre-opening : at-auction limit order only Continuous trading: enhanced limited order only
3 Day trading Not allowed Allowed Block Trade Not allowed Not allowed IPO participating Not allowed Not allowed Lot size 100 shares Depends on individual share Maximum size order 1 million shares Depends on individual share Tick size RMB 0.01 Depends on individual share ± 10% of previous closing price ± 5% of previous closing price for stocks under special treatment During Continuous Action, buy order Price limit at a price below its current best bid price by 3% will be rejected (the percentage may be adjusted from time to time subject to market conditions) No price limit Settlement cycle T+1 T+2 Voting Vote via CCASS s existing voting functions ChinaClear is responsible for submit the votes Chapter 2 Frequently Asked Question 2.1. If the SSE-listed security is removed from the Shanghai-Hong Kong Stock Connect, can we trade the security? Investors will only be allowed to sell that SSE Security but restricted from further buying. In addition, Investors will only be allowed to sell an SSE Security but restricted from further buying if: (a) the SSE Security subsequently ceases to be a constituent stock of the relevant indices; and/or (b) the SSE Security is subsequently under risk alert ; and/or (c) the corresponding H share of the SSE Security subsequently ceases to be traded on SEHK, as the case may be Investor will only be allowed to sell an SEHK Security but restricted from further buying if:
4 (a) the SEHK Security subsequently ceases to be a constituent stock of the relevant indices; and/or (b) the corresponding A share of the SEHK Security ceases to be traded on SSE; and/or (c) where the SEHK Security is an H share and the share of the issuer of such SEHK Security is subsequently listed on an exchange in the Mainland other than SSE, as the case may be How does the Aggregate Quota work? At the end of each trading day, SEHK will calculate the remaining balance of the Northbound Aggregate Quota: Aggregate Quota Balance = Aggregate Quota Aggregate Buy Trades + Aggregate Sell Trades If Aggregate Quota Balance is less than Daily Quota, Northbound buying will be suspended on the next trading day. However, investors can continue to sell SSE Securities, which will then increase the Aggregate Quota Balance. SEHK will re-open Northbound buying once the Aggregate Quota balance returns to the Daily Quota level or above. Southbound Aggregate Quota is monitored by SEHK How does the Daily Quota work? SEHK monitors the usage of Northbound Daily Quota on a real time basis. The Northbound Daily Quota Balance is updated each time when a Northbound order is received and executed: Daily Quota Balance = Daily Quota Buy Orders + Sell Trades + Adjustments* Daily Quota will be refreshed and remain the same every day, subject to the balance of Aggregate Quota. Unused Daily Quota will NOT be carried over to next day s Daily Quota. Once the Northbound Daily Quota Balance drops to zero or is exceed during a continuous auction session (Continuous Trading), no further buy orders will be accepted for the remainder of the day. Once the Northbound Daily Quota Balance drop to zero or the Daily Quota is exceeded during the opening call session, new buy orders will be rejected. However, as order cancellation is common during opening call auction, the Northbound Daily Quota Balance may resume to a positive level before the end of the opening call auction. When that happens, SEHK will again accept Northbound buy orders. Southbound Daily Quota is monitored by SEHK
5 * Daily Quota Balance will be increased when a) a buy order is cancelled; b) a buy order is rejected by the other exchange; or c) a buy order is executed at a better price How will the cross-boundary regulatory enforcement issues arising from the program be dealt with? According to the Joint Announcement, both the CSRC and the SFC will actively enhance cross-boundary regulatory and enforcement cooperation. Each of them will take measures to establish an effective regime under the Shanghai-Hong Kong Stock Connect to respond to all misconduct in either or both markets on a timely basis, The CSRC and the SFC will improve the current bilateral agreement to strengthen enforcement cooperation in respect of the following areas: * Referral and information exchange mechanisms concerning improper activities; * Investigatory cooperation in relation to cross boundary illegal activities including disclosure of false or misleading information, insider dealing and market manipulation; * Bilateral enforcement exchange and training; and * Enhancement of general standards of cross-boundary enforcement cooperation. The Joint Announcement further notes that the two Commissions will establish a dedicated liaison mechanism for Shanghai-Hong Kong Stock Connect to deal with any issues that may encountered during the pilot program which may require joint resolution Are we protected by the investor compensation fund? Hong Kong investors participating in the Shanghai-Hong Kong Stock Connect through SEHK Participants will continue to be protected by Hong Kong laws. Similar to any overseas investment which involves a sub-custody arrangement, investors will also be facing the counterparty risks of ChinaClear. Similarly for the trading and settlement activities, Hong Kong investors will continue to deal with SEHK Participants and be protected by the SFO. It should however be noted that the current Investor Compensation Fund will not cover any Northbound activities. Chapter 3: Trading Arrangement FAQ 3.1. Are there any disclosure obligations for trading SSE-listed Shares?
6 Under the current PRC rules, when an investor holds or controls up to 5% of the issued shares of an SSE-listed issuer, the investor is required to disclose his interest within three working days. Such invertor may not buy or sell the shares in the listed issuer within the three-day period. For such investor, every time when there is an increase or decrease in his shareholding by 5% or the shares held by him falling below 5% of the issued shares in the listed issuer, the investor is required to disclose the information within three working days What is the pre-trade checking requirement? Mainland investors are only allowed to sell A shares which are available in their stock accounts at the end of the previous day When placing sell orders, investors must ensure they have sufficient shares in their accounts on T-1 in order to sell their shares on T day What is the holiday arrangement? Investors will only be allowed to trade on the other market on days where both markets are opened for trading, and banking services are available in both markets on the corresponding settlement days What is the contingency arrangement under severe weather conditions? Scenarios Northbound Trading of SSE Securities T8 / Black rainstorm issued before HK market opens (i.e. 09:00 a.m.) Not Open T8 issued between 09:00 a.m. and 09:15 a.m. Not Open T8 issued after SSE market opens (i.e. 09:15 a.m.) Trading will continues for 15 minutes after T8 issuance, thereafter, only order cancellation is allowed till SSE market close Black rainstorm issued after HK market opens (i.e. 09:00 a.m.) Trading continues as normal T8 / Black rainstorm discontinued at or before 12:00 noon Trading resumes after 2 hours
7 T8 / Black rainstorm discontinued after 12:00 noon Not Open 3.5. Can investors trade through their existing broker(s) in Hong Kong? Hong Kong and overseas investors can trade SSE Securities through any EPs, so long as the chosen EP is eligible to participate in Shanghai-Hong Kong Stock Connect Do investors need to open any additional account with any party to trade SSE Securities under Shanghai-Hong Kong Stock Connect? Investors should discuss with their brokers on the detailed arrangements of participating in Shanghai-Hong Kong Stock Connect, including whether they need to open a separate account for trading SSE Securities, in addition to the one for trading Hong Kong shares. Chapter 4: Clearing Settlement and Risk Management Arrangement 4.1. What are the clearing risk management measures in place under Shanghai-Hong Kong Stock Connect? ChinaClear will generally apply its existing risk management measures on HKSCC s unsettled positions on SSE Securities. HKSCC will in turn adapt ChinaClear s risk management measures and impose them on CPs and trading SSE Securities. These risk management measures are largely similar to those imposed by ChinaClear on its other clearing participants. To avoid risk spill-over across the border, ChinaClear will not contribute to the HKSCC Guarantee Fund and ChinaClear will not be required to share and default loss of CPs. CPs Guarantee Fund contributions will not be utilized to offset close-out loss in ChinaClear default. Should the remote event of ChinaClear default occur and ChinaClear be declared as a defaulter. HKSCC s liabilities in Northbound trades under its market contracts with CPs will be limited to assisting CPs in pursuing their claims against ChinaClear. HKSCC will in turn distribute the stocks or monies recovered to CPs on a pro-rata basis Is the RMB Equity Trading Support Facility (TSF) available for obtaining RMB funding to trade SSE-listed shares under Shanghai-Hong Kong Stock Connect? TSF, which serves as a back-up facility to enable investors to buy RMB-denominated shares on SEHK with HKD, will not cover SSE Securities initially. Hence, investors will need to use their RMB to trade and settle SSE Securities.
8 4.3. How would SSE Securities under Shanghai-Hong Kong Stock Connect be custodised for Hong Kong and overseas investors? Can investors hold SSE Securities acquired through Shanghai-Hong Kong Stock Connect in physical form? Since SSE Securities are issued in scripless form, physical deposits and withdrawals of SSE Securities into/from the CCASS Depository will not be available. As explained above, Hong Kong and overseas investors can only hold SSE Securities through their brokers/custodians. Their ownership of such is reflected in their brokers/custodians own records such as client statements. Chapter 5: Fees and Levies 5.1. How much does it cost to trade and settle SSE Securities under Shanghai-Hong Kong Stock Connect? Fees and taxes applicable to a Northbound trade: Items Rate Charged by Handling Fee % of the consideration of a transaction per side SSE Securities Management Fee 0.002% of the consideration of a transaction per side CSRC Transfer Fee 0.002% of the consideration of a transaction per side ChinaClear Stamp Duty 0.1% of the consideration of a transaction on the seller SAT Taxes to the relevant regulators/authorities: Items Description Charged by Income tax Income tax would be temporarily exempted for 3 years SAT Dividend tax will be withheld by issuer and ChinaClear upon dividend payment. The New CCASS Fee, if implemented, will be collected in HKD on a monthly basis.
9 Source: HKEx Risk Disclosure: This document does not constitute an offer for the purchase or sale of any investment products. Securities trading involve risks. The prices of securities may fluctuate, sometimes dramatically. It is possible that losses will be incurred rather than profit made as a result of buying and selling securities. You should study related sales materials before making investment decisions and seek independent professional advice. You should carefully consider whether the investment is suitable in light of your own financial situation and investment objective. Disclaimer : You agree and acknowledge that, on securities stock price data provided by a bank or a bank is chosen to provide other information providers.while banks and / or other information suppliers will endeavor to ensure the accuracy and reliability of the information provided,will not bear any due to inaccurate or incomplete information and make you suffer responsibility. Partial Information provided by ET Net Limited. ET Net Limited, HKEx Information Services Limited, China Investment Information Services Limited, and their respective holding companies and/or any subsidiaries of such holding companies and/or their respective Third Party Information Providers endeavour to ensure the accuracy and reliability of the information provided, but do not guarantee its accuracy and reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.
Shanghai-Hong Kong Stock Connect
Shanghai-Hong Kong Stock Connect FAQ for Investors (Updated:23 January 2015) The information and materials contained in this FAQ are provided on an as is and as available basis and may be further amended
More informationImportant Notice of Northbound Trading via Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect
Important Notice of Northbound Trading via Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect What is Shanghai-Hong Kong Stock Connect? Shanghai-Hong Kong Stock Connect ( Shanghai Connect
More informationAddendum in relation to Shanghai Hong Kong Stock Connect and Shenzhen Hong Kong Stock Connect (collectively referred to as Stock Connect )
Addendum in relation to Shanghai Hong Kong Stock Connect and Shenzhen Hong Kong Stock Connect (collectively referred to as Stock Connect ) This Addendum shall apply to all transactions under Stock Connect
More informationSecurities Trading Service - China A Shares Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect
Securities Trading Service - China A Shares Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect HSBC gives you a brand new multi-channel China A Shares trading experience, with comprehensive real-time
More informationBRIC (Brazil, Russia, India, China), Emerging Markets, Global Multi-Asset Income, QEP Global Active Value and QEP Global Quality
Schroder International Selection Fund Société d'investissement à Capital Variable 5, rue Höhenhof, L-1736 Senningerberg Grand Duchy of Luxembourg Tel : (+352) 341 342 202 Fax : (+352) 341 342 342 IMPORTANT:
More informationStock Connect Another Milestone
Stock Connect Another Milestone FAQ (Version Date: 10 April 2017) The information contained in this document is for general informational purposes only and does not constitute an offer, solicitation or
More informationSHANGHAI CONNECT SHENZHEN CONNECT
SHANGHAI CONNECT SHENZHEN CONNECT INFORMATION BOOK FOR INVESTORS The information contained in this document is for general informational purposes only and does not constitute an offer, solicitation or
More informationInformation on Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect
Information on Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect Getting to know Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect Shanghai-Hong Kong Stock Connect
More informationCPD Day 2016 Shanghai Stock Connect Margin Financing
CPD Day 2016 Shanghai Stock Connect Margin Financing Richard McKeown Joseph Lee 19 October 2016 Outline Taking security over listed shares Stock Connect - Shanghai (Nov 2014) / Shenzhen (Nov 2016) Common
More informationESTABLISHMENT OF SHANGHAI-HONG KONG STOCK CONNECT
Pursuant to Chapter 38 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Securities and Futures Commission regulates Hong Kong Exchanges and Clearing Limited
More informationHong Kong Market Report
Hong Kong Market Report Asia Securities Forum Jeffrey Chan Hong Kong Securities Association ECONOMIC PERFORMANCE 2 Key Economic Indicators 2011 2012 Q2 GDP (yoy, %) 4.9 1.5 2.9 1.8 CPI (yoy, %) 5.3 4.1
More informationvia Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect
Important Notice of Trading China A Shares and A Shares Margin Trading via Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect Please be informed that the followings are applicable to
More informationASF Hong Kong Market Report
ASF 2014 - Hong Kong Market Report November 2014 HONG KONG ECONOMY Economic Performance The Hong Kong economy attained a moderate growth in 2013 amid a still challenging external environment. The growth
More informationCHAPTER 14A CHINA CONNECT SERVICE - SHANGHAI
CHAPTER 14A CHINA CONNECT SERVICE - SHANGHAI Application 14A01. (1) This Chapter 14A sets out the China Connect Service Special Rules that apply to Shanghai-Hong Kong Stock Connect as a Trading Link referred
More informationSSE Newsletter. April Vol. 15. Highlights:
Vol. 15 SSE Newsletter April 2014 Highlights: SSE Composite of April 2014 remained stable, while trading volume showed slight decrease compared with that of the previous month. Premier Li Keqiang said
More informationSecurities Services Charges (Applicable to Company Account Customers)
Securities Services Charges (Applicable to Company Account Customers) CHARGES FOR TRADE-RELATED, SCRIP HANDLING & SETTLEMENT-RELATED, NOMINEE SERVICES & CORPORATE ACTIONS AND OTHER SERVICES (A) Local Securities
More informationImportant Notice of Trading China A Shares and A Shares Margin Trading via Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect
Important Notice of Trading China A Shares and A Shares Margin Trading via Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect Please be informed that the followings are applicable to
More information1.1 The following terms as contained in this Appendix or the Standard Terms and Conditions shall have the following meanings:
APPENDIX FOR SECURITIES TRADING VIA SHANGHAI-HONG KONG STOCK CONNECT (NORTHBOUND TRADING) APPENDIX FOR SECURITIES TRADING VIA SHANGHAI-HONG KONG STOCK CONNECT (NORTHBOUND TRADING) This Appendix applies
More informationStock Connect Another Milestone
Stock Connect Another Milestone Information Book for Market Participants (Version Date: 9 March 2017) The information contained in this document is for general informational purposes only and does not
More informationSecurities Services Charges (Applicable to Personal Customers)
Securities Services Charges (Applicable to Personal Customers) CHARGES FOR TRADE-RELATED, SCRIP HANDLING & SETTLEMENT-RELATED, NOMINEE SERVICES & CORPORATE ACTIONS AND OTHER SERVICES (A) Local Securities
More informationFirst State New Era PRC Fund
First State New Era PRC Fund Explanatory Memorandum 18 July 2016 First State Investments (Hong Kong) Limited Level 25 One Exchange Square 8 Connaught Place Hong Kong Telephone: (852) 2846 7555 Intermediary
More informationCHAPTER 14B CHINA CONNECT SERVICE - SHENZHEN
CHAPTER 14B CHINA CONNECT SERVICE - SHENZHEN Application 14B01. (1) This Chapter 14B sets out the China Connect Service Special Rules that apply to Shenzhen-Hong Kong Stock Connect as a Trading Link referred
More informationCHINA CONNECT SUPPLEMENTAL TERMS
CHINA CONNECT SUPPLEMENTAL TERMS At any time you place an order with us or otherwise engage in a transaction with us under China Connect, these terms are deemed to apply to such order or transaction. 1
More informationEBSHK Direct. Fees and Charges. (Effective on January 16, 2018) A. HK Shares and Warrants B. China Connect Shenzhen & Shanghai A Shares...
EBSHK Direct Fees and (Effective on January 16, 2018) Item Page A. HK Shares and Warrants... 2 B. China Connect Shenzhen & Shanghai A Shares... 7 C. Stock Options... 8 D. US Shares (Traded via Online Platform)...
More informationPACIFIC ASIAN INCOME FUND
SUPPLEMENTARY INFORMATION MEMORANDUM PACIFIC ASIAN INCOME FUND MANAGER PACIFIC MUTUAL FUND BHD (336059-U) a company incorporated in Malaysia under the Companies Act 1965 TRUSTEE CIMB COMMERCE TRUSTEE BERHAD
More informationEverbright Sun Hung Kai
Everbright Sun Hung Kai Fees and (Effective on January 16, 2018) Item Page A. HK Shares and Warrants... 2 B. China Connect Shenzhen & Shanghai A Shares... 6 C. Stock Options... 7 D. B-Shares... 8 E. Overseas
More informationHong Kong Shanghai Stock Connect. 10 March 2015
Hong Kong Shanghai Stock Connect 10 March 2015 Introduction & Welcome Camille Thommes, Director General, ALFI Hong Kong Shanghai Stock Connect Addressing Market Feedback James Fok, Chief of Staff & Head
More informationNovember 2016 RESEARCH REPORT STOCK CONNECT - TOWARDS A MUTUAL MARKET FOR THE INTERESTS OF MAINLAND AND GLOBAL INVESTORS
November 2016 RESEARCH REPORT STOCK CONNECT - TOWARDS A MUTUAL MARKET FOR THE INTERESTS OF MAINLAND AND GLOBAL INVESTORS CONTENTS Page Summary... 1 1. The Stock nnect pilot programme Unprecedented connectivity
More informationFees and Charges of Securities Services (Effective from 12 th Nov 2018)
Fees and Charges of Securities Services (Effective from 12 th Nov 2018) Local Securities (The following service fees are charged according to the transaction currency) Traderelated Brokerage Fee (Applicable
More informationRules on the Stock Connect between Chinese Mainland and Hong. Kong
Rules on the Stock Connect between Chinese Mainland and Hong Kong Declaimer: For the avoidance of doubt, if there is any conflict in the meaning between the English version and the Chinese version, the
More information2.3.1 words importing the singular include the plural and vice versa and words importing a gender include every gender; and
SEC500ci(YX) 1-31 11/16 E Stock Connect Terms These Stock Connect Terms are the terms and conditions governing trading of China Connect Securities through the Stock Connect Northbound Trading Service of
More informationAbout the details, features, procedure and important notice of Good-Till-Date service
About the details, features, procedure and important notice of Good-Till-Date service 1. The good-till-date order is not applicable for trading specified Singapore listed securities, odd lot stocks and
More informationXtrackers MSCI AC World UCITS ETF. Supplement to the Prospectus
Xtrackers MSCI AC World UCITS ETF Supplement to the Prospectus This Supplement contains information in relation to Xtrackers MSCI AC World UCITS ETF (the Fund ), a Fund of Xtrackers (IE) plc (the Company
More informationHONG KONG RISK DISCLOSURE STATEMENT
4041 08/11/2017 HONG KONG RISK DISCLOSURE STATEMENT A. RISK OF SECURITIES TRADING The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become
More informationShanghai-Hong Kong Stock Connect. FAQ on Latest Progress (26 September 2014)
Shanghai-Hong Kong Stock Connect FAQ on Latest Progress (26 September 2014) Margin Trading/Stock Borrowing and Lending/Covered Short Selling 1. Is margin trading allowed for SSE Securities? (EP-CP FAQ
More informationMainland Hong Kong Mutual Recognition of Funds Expansion of Cross-Border Investment Opportunities
Mainland Hong Kong Mutual Recognition of Funds Expansion of Cross-Border Investment Opportunities Southbound Northbound The Mainland-Hong Kong Mutual Recognition of Funds does not only increase the cross-border
More informationCorporate & Commercial
Newsletter May 2017 Corporate & Commercial Join Forces: SFC Co-operated with CSRC to Sanction Against Manipulative Trading Introduction On 10 March 2017, the China Securities Regulatory Commission ( CSRC
More informationJoin Forces: SFC Co-operated with CSRC to Sanction Against Manipulative Trading
Join Forces: SFC Co-operated with CSRC to Sanction Against Manipulative Trading Introduction On 10 March 2017, the China Securities Regulatory Commission ( CSRC ) published a decision sanctioning two individuals
More informationCHINA CONNECT SERVICES ANNEX SUPPLEMENT TO SECURITIES DEALING SERVICES: HONG KONG MARKET ANNEX
CHINA CONNECT SERVICES ANNEX SUPPLEMENT TO SECURITIES DEALING SERVICES: HONG KONG MARKET ANNEX 1. Definitions and Interpretation 1.1 In this China Connect Services Annex capitalised terms have the meaning
More informationChina Connect: Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect Terms and Conditions (these Terms and Conditions )
China Connect: Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect Terms and Conditions (these Terms and Conditions ) 1. INTERPRETATION 1.1 Terms and expressions used herein (including the Appendix
More informationRenminbi ( RMB ) RMB counter Hong Kong dollars ( HKD ) HKD counter
PRODUCT KEY FACTS Haitong International Asset Management (HK) Limited April 2018 This is an exchange traded fund. This statement provides you with key information about this product. This statement is
More informationGLOBAL MARKETS EQUITIES SUPPLEMENT TO THE TERMS OF BUSINESS - SECURITIES APPLICABLE TO TRADING OF SHARES THROUGH CHINA CONNECT
The Hongkong and Shanghai Banking Corporation Limited 1 Queen's Road Central Hong Kong SAR GLOBAL MARKETS EQUITIES SUPPLEMENT TO THE TERMS OF BUSINESS - SECURITIES APPLICABLE TO TRADING OF SHARES THROUGH
More informationPRODUCT KEY FACTS STATEMENT
Issuer: Hang Seng Investment Management Limited This is an exchange traded fund. PRODUCT KEY FACTS STATEMENT Hang Seng Index ETF 1 December 2017 This statement provides you with key information about the
More informationPRODUCT KEY FACTS STATEMENT
Issuer: Hang Seng Investment Management Limited This is an exchange traded fund. 1 PRODUCT KEY FACTS STATEMENT Hang Seng China Enterprises Index ETF 30 April2018 This statement provides you with key information
More informationTerms of the promotion offers: 1. New Family Securities Accounts offer The promotion period is from 20 November 2014 to 31 March 2015 (both dates
Terms of the promotion offers: 1. New Family Securities Accounts offer The promotion period is from 20 November 2014 to 31 March 2015 (both dates inclusive)( Family Securities Accounts Promotion Period
More informationShenzhen-Hong Kong Stock Connect Exchange Participant Information Package on Pre-launch System Readiness Test on 3 December 2016
Shenzhen-Hong Kong Stock Connect Exchange Participant Information Package on Pre-launch System Readiness Test on 3 December 2016 25 November 2016 IMPORTANT INFORMATION The information contained in this
More informationDeposit balance at the time of account /service take up or upgrade. Designated accounts /services. Age of the children. Reward
Terms of the promotion offers: 1. Family members account opening reward up to HK$600: The promotion period is from 12 January 2015 to 31 March 2015 (both dates inclusive)( Family Members Account Opening
More informationDeposit balance at the time of account /service take up or upgrade. Designated accounts /services. Age of the children. Reward
Terms of the promotion offers: 1. Family members account opening reward up to HK$100: The promotion period is from 12 January 2015 to 31 March 2015 (both dates inclusive)( Family Members Account Opening
More informationGENERAL TERMS AND CONDITIONS APPLICABLE TO NORTHBOUND TRADING OF SHARES THROUGH CHINA CONNECT MARKET
This document is subject to change upon finalisation of the China Connect Rules. Neither these China Connect Terms nor any information contained herein constitutes or forms part of any offer or invitation
More informationCHAPTER 15 SPECIAL PARTICIPANTS
CHAPTER 15 SPECIAL PARTICIPANTS Cross-boundary Trading Links 1501. This Chapter sets out the provisions that apply to Special Participants in relation to the trading of SEHK Securities as part of the order-routing
More informationINTERPRETATION CHAPTER 1. Rules of the Exchange In these Rules, unless the context otherwise requires:- China Connect Market Participant
Rules of the Exchange CHAPTER 1 INTERPRETATION 101. In these Rules, unless the context otherwise requires:- China Connect Market Participant personal data in relation to a China Connect Market, means (i)
More informationShanghai-Hong Kong / Shenzhen-Hong Kong Stock Connect Northbound Trading Risk Disclosure Letter
KVB Kunlun Securities (HK) Limited 昆侖國際證券 ( 香港 ) 有限公司 Unit, 6801, 68/F, International Commerce Centre 1 Austin Road West (SFC CE Number: AQG528) Kowloon, Hong Kong www.kvbkunlun.com Tel: +852-3701 8188
More informationDATE: NOVEMBER 2016 CHINA CONNECT TERMS - CLIENTS OF J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED. 1. Application
DATE: NOVEMBER 2016 CHINA CONNECT TERMS - CLIENTS OF J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED 1. Application 1.1 Notwithstanding any provision in any General Terms and Conditions, these China Connect
More informationDATE: JULY 2018 CHINA CONNECT TERMS CLIENTS OF J.P. MORGAN SECURITIES PLC OR J.P. MORGAN AG, AS APPLICABLE. 1. Application
DATE: JULY 2018 CHINA CONNECT TERMS CLIENTS OF J.P. MORGAN SECURITIES PLC OR J.P. MORGAN AG, AS APPLICABLE 1. Application 1.1 Notwithstanding any provision in any General Terms and Conditions, these China
More informationPRODUCT KEY FACTS. Quick Facts. What is this product?
PRODUCT KEY FACTS Mirae Asset Horizons Exchange Traded Funds Series- September 2018 Issuer: Mirae Asset Global Investments (Hong Kong) Limited This is an exchange traded fund. This statement provides you
More informationPRODUCT KEY FACTS W.I.S.E. SSE 50 China Tracker
Issuer: BOCI-Prudential Asset Management Limited PRODUCT KEY FACTS a sub-fund of the World Index Shares ETFs This is an exchange traded fund. This statement provides you with key information about this
More informationInvestor ID Model for Northbound Trading
LEGAL UPDATE Investor ID Model for Northbound Trading On 30 November 2017 the Hong Kong Securities and Futures Commission ( SFC ) announced that an agreement has been reached with China Securities Regulatory
More informationVanguard Investments Hong Kong Limited May 2018
PRODUCT KEY FACTS Vanguard Total China Index ETF Vanguard Investments Hong Kong Limited May 2018 Quick facts Stock code: This is an exchange traded fund. This statement provides you with key information
More informationStaff of Hong Kong Polytechnic University Enjoy up to HK$3,000 BOC Credit Card free spending credit upon new registration for Payroll Service
Staff of Hong Kong Polytechnic University Enjoy up to HK$3,000 BOC Credit Card free spending credit upon new registration for Payroll Service During the promotion period, customers can enjoy the following
More informationHaitong CSI300 Index ETF (the Sub-Fund )
Important: If you are in any doubt about the contents of this Addendum, you should consult your stock broker, bank manager, solicitor, accountant or other financial adviser for independent financial advice.
More informationIndexing Investment. under Stock Connect Program. Anita Mo. Head of Business Development. A joint venture of
Indexing Investment under Stock Connect Program Anita Mo Head of Business Development A joint venture of Nov 2016 1 China Exchanges Services Company Ltd. 33.3% 33.3% 33.3% 2 Cross Border Asset Allocation
More informationGetting Ready for Stock Connect V2 Shenzhen. Launching 5th December Markets and Securities Services
Getting Ready for Stock Connect V2 Shenzhen Launching 5th December 2016 Markets and Securities Services Markets and Securities Services Many fund managers, especially those with prior experience in buying
More informationPing An of China Select Investment Fund Series RMB Bond Fund Addendum to the Explanatory Memorandum
IMPORTANT: This Addendum is supplemental to and forms part of the Explanatory Memorandum of the Ping An of China Select Investment Fund Series dated March 2013 (the Explanatory Memorandum ). Unless otherwise
More informationNorthbound Investor ID Model
Northbound Investor ID Model FAQ (Version Date:26 January 2018) The information contained in this document is for general informational purposes only and does not constitute an offer, solicitation or recommendation
More informationCHAPTER 14A CHINA CONNECT SERVICE - SHANGHAI
Rules of the Exchange CHAPTER 14A CHINA CONNECT SERVICE - SHANGHAI Interpretation 14A02. (2) In this Chapter, unless the context otherwise requires: Short Selling Short Selling Ratio Short Selling Securities
More informationTerms of promotion offers: 1. New Family Securities Account $0 brokerage fee offer for buying Hong Kong stocks / China A shares:
Terms of promotion offers: Promotion period is from 2 January 2019 to 31 March 2019 (both dates inclusive)( Promotion Period ). 1. New Family Securities Account $0 brokerage fee offer for buying Hong Kong
More informationAIA MPF PRIME VALUE CHOICE Sixth Addendum to the Principal Brochure issued in December 2016
AIA MPF PRIME VALUE CHOICE Sixth Addendum to the Principal Brochure issued in December 2016 1 Issued on 28 January 2019 This Sixth Addendum forms part of and shall be read in conjunction with the Principal
More informationFIRST STATE GLOBAL UMBRELLA FUND PLC
FIRST STATE GLOBAL UMBRELLA FUND PLC (the Company ) (an umbrella investment company with variable capital and with segregated liability between sub-funds incorporated with limited liability under the laws
More informationas Issuer and Product Arranger
Product Booklet dated 4 August 2017 Hang Seng Bank Limited (incorporated in Hong Kong with limited liability, a licensed bank regulated by the Hong Kong Monetary Authority and registered under the Securities
More informationHarvest MSCI China A 50 Index ETF. (RMB Counter Stock Code: HKD Counter Stock Code: 03118)
IMPORTANT: If you are in any doubt about the contents of this Prospectus, you should consult your stockbroker, bank manager, solicitor, accountant or other financial adviser for independent financial advice.
More informationCESC Index Report for November
CESC Index Report for November China Exchanges Services Co Ltd (CESC) Highlights Mainland A shares outperformed Hong Kong stocks in November. The CES A80 surged 7.4 per cent. The CES 300 surged 3.7 per
More informationPRODUCT KEY FACTS BOCHK China Consumption Growth Fund
PRODUCT KEY FACTS BOCHK China Consumption Growth Fund a sub-fund of the BOCHK Investment Funds Issuer: BOCI-Prudential Asset Management Limited 10 June 2015 This statement provides you with key information
More informationPRODUCT KEY FACTS NCB China Equity Fund
PRODUCT KEY FACTS a sub-fund of the NCB Investment Funds Issuer: BOCI-Prudential Asset Management Limited 30 April 2018 This statement provides you with key information about this product. This statement
More informationShanghai-Hong Kong Stock Connect
Shanghai-Hong Kong Stock Connect Business Model Updates Briefing to Participants July 2014 The implementation of Shanghai-Hong Kong Stock Connect is subject to conditions, including regulatory approvals,
More informationNon-collateralised Structured Products
4 February 2019 Hong Kong Exchanges and Clearing Limited ( HKEX ), The Stock Exchange of Hong Kong Limited (the Stock Exchange ) and Hong Kong Securities Clearing Company Limited take no responsibility
More informationICBCCS CHINA CORE VALUE MIXED FUND HONG KONG COVERING DOCUMENT
ICBCCS CHINA CORE VALUE MIXED FUND a fund established pursuant to a Fund Contract taking effect from 31 August 2005 (and as amended from time to time) between the Fund Manager and the Fund Custodian and
More informationGeneral fees. HK$150 per month. transaction plus overdraft interest at BEA HKD Prime Rate or HIBOR (whichever is higher) + 8% p.a.
General fees Category (A) Deposit services Monthly service fee 1, 2 To be waived under any of the following conditions: Average Daily Relationship Balance 3 of HK$10,000 or above (or its equivalent in
More informationPRODUCT KEY FACTS STATEMENT
Issuer: Hang Seng Investment Management Limited This is an exchange traded fund. PRODUCT KEY FACTS STATEMENT Hang Seng FTSE China 50 Index ETF 1 December 2017 This statement provides you with key information
More informationSection 17 Suspension of Services
17/1 Section 17 Suspension of Services 17.1 GENERAL Under the Rules, if in the opinion of HKSCC the functioning of CCASS or the services and facilities that it provides in relation to China Connect Securities
More informationAmundi Hong Kong Limited 22 March 2019
PRODUCT KEY FACTS (a sub-fund of AMUNDI ETF Series) Amundi Hong Kong Limited 22 March 2019 This is an exchange traded fund. This statement provides you with key information about this product. This statement
More informationCHAPTER 9 CLEARING SERVICES
9/1 CHAPTER 9 CLEARING SERVICES 901. Clearance of Exchange Trades (i) Provision of Exchange Trades Details In relation to Exchange Trades on each Business Day, details thereof are to be reported to HKSCC
More informationTrading Rules of Shenzhen Stock Exchange
Disclaimer: This English translation of Trading Rules (2016) is for information purpose only. The SZSE does not guarantee its accuracy and reliability and accepts no liability resulting from any error
More informationSUPPLEMENT 10. Indexed Fundamental Global Equity Fund
SUPPLEMENT 10 Indexed Fundamental Global Equity Fund This Supplement contains information relating specifically to the Indexed Fundamental Global Equity Fund (the "Fund"), a sub fund of Beresford Funds
More informationi-account General fees (A) Deposit services Monthly service fee 1, 2 (based on the Average Daily Relationship Balance 3 in the preceding month) Waived
i-account General fees Category (A) Deposit services Charge per item Monthly service fee 1, 2 (based on the Average Daily Relationship Balance 3 in the preceding month) HK$5,000 or above Below HK$5,000
More informationSeptember 2017 CONSULTATION PAPER DELISTING AND OTHER RULE AMENDMENTS
September 2017 CONSULTATION PAPER DELISTING AND OTHER RULE AMENDMENTS CONTENTS Page No. EXECUTIVE SUMMARY 1 CHAPTER 1: INTRODUCTION 2 CHAPTER 2: LONG SUSPENSION, DELISTING FRAMEWORK AND PROPOSED RULE AMENDMENTS
More informationCESC Index Report for August
CESC Index Report for August China Exchanges Services Co Ltd (CESC) Highlights Trading under Shanghai Connect increased after approval was given for Shenzhen Connect. Northbound trading had a single-day
More informationGeneral fees. (A) Deposit services
General fees Category (A) Deposit services Monthly service fee 1 To be waived under any of the following conditions: Average Daily Relationship Balance 2 of HK$500,000 or above (or its equivalent in other
More informationGFI ETF SERIES (the Trust )
IMPORTANT: THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE FOR UNITS OF THE EXCHANGE TRADED FUND NAMED
More informationHong Kong Securities Clearing Company Limited. Principles for Financial Market Infrastructures Disclosure
Hong Kong Securities Clearing Company Limited Principles for Financial Market Infrastructures Disclosure November 2015 Responding Institution: Hong Kong Securities Clearing Company Limited Jurisdiction(s)
More informationPremia Partners Company Limited 13 February 2018
PRODUCT KEY FACTS (a sub-fund of Premia ETF Series) Premia Partners Company Limited 13 February 2018 Quick facts This is an exchange traded fund. This statement provides you with key information about
More informationRisk Disclosure Statement
Risk Disclosure Statement Overview: A. GENERAL KEY RISKS FOR ALL FINANCIAL INSTRUMENTS B. FIXED INCOME SECURITIES Fixed income securities with special features (i) High yield bonds (ii) Subordinated securities
More informationas Issuer and Product Arranger
Product Booklet dated 7 August 2018 Hang Seng Bank Limited (incorporated in Hong Kong with limited liability, a licensed bank regulated by the Hong Kong Monetary Authority and registered under the Securities
More informationHang Seng H-Share Index ETF (stock code : 2828) Hong Kong Offering Document. 19 November Hang Seng Investment Management Limited
Hang Seng H-Share Index ETF (stock code : 2828) Hong Kong Offering Document 19 November 2003 Important If you are in any doubt about the contents of this offering document, you should consult your stockbroker,
More informationTerms of the promotion offers Total Relationship Balance Growth Reward ( TRB Growth Reward ) Travel Upgrade Reward
Terms of the promotion offers: 1. Total Relationship Balance Growth Reward ( TRB Growth Reward ) : The promotion period is from 18 January 2016 to 31 March 2016 (both dates inclusive) ( TRB Growth Reward
More informationAmundi Hong Kong Limited 22 March 2019
PRODUCT KEY FACTS (a sub-fund of AMUNDI ETF Series) Amundi Hong Kong Limited 22 March 2019 This is an exchange traded fund. This statement provides you with key information about this product. This statement
More informationSUPPLEMENT Guinness Emerging Markets Equity Income Fund Dated 23 rd April, 2018
SUPPLEMENT Guinness Emerging Markets Equity Income Fund Dated 23 rd April, 2018 This Supplement contains information relating specifically to the Guinness Emerging Markets Equity Income Fund (the Fund
More informationGF INDUSTRY LEADERS MIXED ASSETS FUND
PRODUCT KEY FACTS Issuer: GF Fund Management Co., Ltd GF INDUSTRY LEADERS MIXED ASSETS FUND 1 December 2015 This is a Mainland fund authorized for public offering in Hong Kong pursuant to Mainland-Hong
More informationPRODUCT KEY FACTS ChinaAMC Select Fund - ChinaAMC Select RMB Short-term Bond Fund (the Sub-Fund ) April 2017
PRODUCT KEY FACTS ChinaAMC Select Fund - ChinaAMC Select RMB Short-term Bond Fund (the Sub-Fund ) April 2017 This statement provides you with key information about this product. This statement is a part
More informationPRODUCT KEY FACTS W.I.S.E. - CSI HK 100 Tracker TM
Issuer: BOCI-Prudential Asset Management Limited This is an exchange traded fund. PRODUCT KEY FACTS a sub-fund of the World Index Shares ETFs This statement provides you with key information about this
More informationStakeholder Engagement
HKEx seeks to involve its stakeholders in its decision-making processes so as to align business practices with public needs and expectations, and to achieve sustainable development. Details of our major
More information