Structured Products on Non-Hong Kong Underlying Assets 
01/08/2009 
 

1.

Introduction
 
Structured Products on non-Hong Kong underlying assets listed under Chapter 15A of the Listing Rules are called Market Access Products (MAPs).  MAPs can take the form of Derivative Warrants (DWs), Callable Bull/Bear Contracts (CBBC) or Equity Linked Instruments (ELIs).
  

2.

Eligible underlying assets of MAPs
  
The underlying assets eligible for issuance of MAP are potentially very broad including but not limited to:

 

(a)

a security listed on a recognised overseas exchange;                                                                                 

 

(b)

a commodity asset or a derivative contract; or

 

(c)

a third-party or proprietary index based on (a) or (b).
 

 

Currently there are 66 recognised overseas exchanges under criteria 2(a) as stated (in alphabetical order) in the table below.  All reputable derivatives exchanges are acceptable under 2(b).   
 

 

Exchanges

1.

Abu Dhabi Securities Market

2.

American Stock Exchange

3.

Amman Stock Exchange

4.

Athens Exchange

5.

Australian Securities Exchange

6.

Bahrain Stock Exchange

7.

Beirut Stock Exchange

8.

Bermuda Stock Exchange

9.

BME Spanish Exchanges

10.

Bolsa De Comercio De Buenos Aires

11.

Bolsa De Comercio De Santiago

12.

Bolsa De Valores De Colombia

13.

Bolsa De Valores De Lima

14.

Bolsa De Valores Do Sao Paulo

15.

Bolsa Mexicana De Valores

16.

Bombay Stock Exchange

17.

Borsa Italiana Spa

18.

Bourse De Luxembourg

19.

Bourse De Montreal

20.

Budapest Stock Exchange

21.

Bursa Malaysia

22.

Cairo & Alexandria Stock Exchanges

23.

Colombo Stock Exchange

24.

Cyprus Stock Exchange

25.

Deutsche Borse AG

26.

Doha Securities Market, Qatar

27.

Dubai Financial Market

28.

Dubai International Financial Exchange

29.

Indonesia Stock Exchange

30.

International Securities Exchange

31.

Irish Stock Exchange

32.

Islamabad Stock Exchange

33.

Istanbul Stock Exchange

34.

Jasdaq Securities Exchange

35.

JSE

36.

Karachi Stock Exchange

37.

Korea Exchange

38.

Kuwait Stock Exchange

39.

Lahore Stock Exchange

40.

Ljubljana Stock Exchange

41.

London Stock Exchange

42.

Malta Stock Exchange

43.

Muscat Securities Market, Oman

44.

NASDAQ Stock Market

45.

National Stock Exchange Of India

46.

New Zealand Exchange

47.

NYSE Euronext - Euronext

48.

NYSE Euronext - NYSE

49.

OMX Nordic Exchange

50.

Osaka Securities Exchange

51.

Oslo Borse

52.

Philippine Stock Exchange

53.

Shanghai Stock Exchange

54.

Shenzhen Stock Exchange

55.

Singapore Exchange

56.

Stock Exchange Of Mauritius

57.

Stock Exchange Of Tehran

58.

Stock Exchange Of Thailand

59.

SWX Swiss Exchange

60.

Taiwan Stock Exchange

61.

Tel-Aviv Stock Exchange

62.

Tokyo Stock Exchange Group

63.

TSX Group

64.

Vietnam Stock Exchange

65.

Warsaw Stock Exchange

66.

Wiener Borse AG

 
3.

Duration of MAPs
 
The duration of MAPs can range from 3 months to perpetual through a rollover mechanism every 5 years subject to the issuers maintaining the required credit rating.