Stock Options Exchange Participantship 
03/12/2007 
 

Criteria

(Please also see Chapter 3 of the Options Trading Rules of SEHK)

SEHK has two categories of options participantship, each of which has different requirements :-

1) Options Trading Exchange Participant – A participant which can directly trade options through HKATS. 
 be an Exchange Participant of SEHK.
 be a Participant of The SEHK Options Clearing House Limited ("SEOCH") or have entered into a Clearing Agreement with a General Clearing Participant ("GCP") of SEOCH to the effect that the GCP undertakes to clear for the applicant all options trades done in SEHK.
have installed at one or more registered business addresses such computer equipment and software as may be specified by SEHK and the Options System Operator for gaining access to HKATS and ensure that such computer equipment is operated and maintained in accordance with the requirements of SEHK.
have in place, to the satisfaction of SEHK, staff and internal operating and security procedures necessary, amongst other things, to enable it always to have access to HKATS for the purpose of conducting its Exchange Traded Options Business and, where applicable, for processing instructions from its clients and for the purpose of providing professional services to its clients.
  
2)Options Broker Exchange Participant – A participant which can only trade options through an Options Trading Exchange Participant.
be an Exchange Participant of SEHK.
have in place exclusively with one Options Trading Exchange Participant, which is a Direct Clearing Participant or a General Clearing Participant of SEOCH, an Options Broking Agreement;

have in place, to the satisfaction of SEHK, staff, computer equipment and internal operating and security procedures necessary, amongst other things, to enable it always to have access to updated price information regarding options traded on SEHK for the purpose of conducting its Exchange Traded Options Business and, where applicable, for processing instructions from its clients and for the purpose of providing professional services to its clients.