Market Operations

HKEx’s market infrastructure is designed to be fair, reliable and efficient. Trading on all HKEx markets is fully electronic and transactions are guaranteed and cleared through linked electronic systems.

Exchange and Clearing House Participants

	Admission Criteria
	Issuance of New Trading Rights
	Participant Information

HKEx Orion

Clearing

	Securities Clearing
	Derivatives Clearing

Securities Trading Infrastructure

	Trading Mechanism
	AMS/3 Overview
	Terminal User’s Guide
	MWS User’s Guide
	Open Gateway User’s Guide

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Derivatives Trading Infrastructure

	Overview of Trading Mechanism
	Overview of Trading System – HKATS
	HKATS User’s Guide - Click Trade XT
	CLICK Trade XT Installation Guide
	OAPI Technical Documentation

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Trading Arrangements During Typhoons and Black Rainstorm

	Trading Hours for Securities and Derivatives Markets
	Trading Arrangement for Securities and Derivatives Markets
	Arrangement for Clearing and Settlement Services

Participant Circulars

Securities Market
	SEHK
	HKSCC
Derivatives Market
	HKFE
	HKCC
	SEOCH

Risk Management

	Securities Market Risk Management
	Derivatives Market Risk Management
	Surveillance
	HKEx Clearing House Risk Management Reform Measures

Securities Trading Information

	Trading News
	Trading Arrangements
	List of Securities
	Stamp Duty Reporting and Payment
	Designated Securities Eligible for Short Selling

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Derivatives Trading Information

	Error Trade Price Parameters
	Large Open Positions and Position Limits
	Market Maker Obligations and Incentives
	Online Derivatives Trading