Hong Kong Exchanges and Clearing Limited (HKEX) has announced the securities for the first phase of the closing auction it will introduce in its securities market on Monday, 25 July 2016. They were posted in the Volatility Control Mechanism and Closing Auction Session (CAS) section of the HKEX website today along with updated frequently asked questions about the CAS.
Some of the closing times in HKEX's market will be extended as a result of the introduction of the CAS.
New closing times from 25 July 2016 with current closing times in brackets*
Securities market – Phase 1 securities
- Normal trading day: random close between 4:08 pm and 4:10 pm (4 pm)
- Half-day trading: random close between 12:08 pm and 12:10 pm (12:00 pm)
Derivatives market - Stock index futures and options, currency futures and commodity futures
- Normal trading day: 4:30 pm (4:15 pm)
- Half-day trading: 12:30 pm (12:00)
The opening time of HKEX's After-hours Futures Trading (AHFT) will also be extended.
New opening time from 25 July 2016 with current opening time in brackets
AHFT
Additional CAS information, including a "Understand the Closing Auction Session in Just One Minute", is available in the Volatility Control Mechanism and Closing Auction Session (CAS) section of the HKEX website.
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There will also be changes to the typhoon arrangements for the securities and derivatives markets, and the trading hours on the last trading day and the final settlement price calculation algorithm for certain derivatives from 25 July 2016. For details, please see the CAS trading mechanism brochure |
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