HKEx Announces Primary Market Makers for its Stock Options Market
Market Operations
12 Apr 2013
Hong Kong Exchanges and Clearing Limited (HKEx) announced today (Friday) Primary Market Makers (PMMs) for the enhanced market-making scheme that HKEx announced on 20 March 2013 along with other measures to revamp its stock options market (please refer to the news release for details).
The first stage of the enhanced market-making scheme begins 2 May 2013 and ends 31 December 2013. Details are in the following table.
Primary Market Maker Appointments (from 2 May 2013 unless stated otherwise)
|
PMMs |
Stock Option Classes |
BNP Paribas Securities (Asia) Limited
Eclipse Options (HK) Limited
Timber Hill Securities Hong Kong Limited |
AIA Group Limited
China Mobile Limited
China Life Insurance Company Limited
CNOOC Limited
HSBC Holdings Plc |
|
Citadel Securities (Hong Kong) Limited |
China Mobile Limited
HSBC Holdings Plc
China Life Insurance Company Limited (from 2 July 2013)
CNOOC Limited (from 2 July 2013) |
Key Points from Primary Market Makers' Price Quote Obligations
- Provide continnous quotes for at least 120 option series per option class
- Provide quotes for orders of at least 30 contracts for spot month and the next three calendar expiry months and at least 15 contracts for the last three calendar quarter expiry months
- Maximum bid/offer spread as specified by HKEx
- Provide continuous quotes during at least 80 per cent of trading hours in a month
- Respond to at least 80 per cent of quote requests received in a month for all expiry months
For details, please refer to the Circular dated 12 April 2013.
Ends