Rule Update - Operational Trading Procedures for Options Trading Exchange Participants of the Stock Exchange 
29/06/2017 
 

Amendments for the purpose of reflecting the corporate re-branding from “HKEx” to “HKEX” (effective from 17 July 2017)   (Marked-up version of amendments attached for information)

Amendments for the purpose of (i) allowing ETF market makers or liquidity providers to hold or control excess stock options contracts;(ii) implementing the revised stock option position limit model; and (iii) introducing new risk monitoring measures on certain Market Maker Affiliates (effective from 1 June 2017)   (Marked-up version of amendments attached for information)

Amendments to provide that an Options Exchange Participant will no longer be allowed to apply alternative arrangements in collecting client margin (effective from 3 April 2017)   (Marked-up version of amendments attached for information)

Amendments for the purpose of implementing a revised client margining methodology whereby an Options Exchange Participant is mandated to apply a multiplier as prescribed by The SEHK Options Clearing House Limited to the clearing house margin rate/requirement when calculating the amount of margin that it collects from its clients (effective from 20 March 2017)   (Marked-up version of amendments attached for information)

Amendments for the purposes of (i) amending the spread and sell side quotes required of market makers for options with a minimum price fluctuation of HK$0.001 or RMB0.001, and (ii) waiving trading fees for options with contract premium of HK$0.01 or RMB0.01 or below (effective from 1 November 2016)   (Marked-up version of amendments attached for information)

Amendments for the purpose of introducing a pre-trade risk management system for the derivatives market (effective from 11 April 2016)   (Marked-up version of amendments attached for information)

Amendments for the purpose of reflecting the new structure of Hong Kong Exchanges and Clearing Limited group after the internal reorganisation (effective from 22 January 2016)   (Marked-up version of amendments attached for information)

Amendments for the purposes of (i) including four corporate events (“Corporate Events”) into the Procedures such that capital adjustments in relation to the Corporate Events will no longer have to be decided on a case by case basis by SEHK in consultation with The SEHK Options Clearing House Limited and the Commission; and (ii) setting out adjustment methods in respect of each of the Corporate Events (effective from 29 June 2015)   (Marked-up version of amendments attached for information)

Amendments to (i) introduce a central gateway for connection to HKATS following the HKATS upgrade to the Genium INET Platform (the “Genium Upgrade”);(ii) introduce the Tailor-Made Combination function on HKATS to replace the existing Bulletin Board and Non-Standard Combination functions; and (iii) reflect the operational changes in HKATS following the Genium Upgrade (effective from 15 October 2013)   (Marked-up version of amendments attached for information)

Amendments to (i) revise the current 2- tier trading fee structure to a new 3-tier trading fee structure; (ii) introduce primary market makers; (iii) reduce minimum trading spread of selected stock options; (iv) introduce the forth calendar expiry month contracts; and (v) make miscellaneous changes for housekeeping purposes (effective from 2 May 2013)    (Marked-up version of amendments attached for information)

Amendments to (i) facilitate the implementation of various platform infrastructure initiatives that are being undertaken by Hong Kong Exchanges and Clearing Limited, including the construction of its Next Generation Data Centre and upgrade of its securities and derivatives network, SDNet 2.0; (ii) ensure consistency in the contingency procedures for trading in the stock options market operated by SEHK with those for trading in the derivatives market operated by Hong Kong Futures Exchange Limited; and (iii) clarify SEHK’s power to delete invalid block trades (effective from 26 March 2012)   (Marked-up version of amendments attached for information)

Amendments to facilitate the trading of RMB denominated option classes (effective from 28 September 2011)   (Marked-up version of amendments attached for information)

Amendments to introduce the standard combination trading function on HKATS to the stock options market (effective from 9 May 2011)   (Marked-up version of amendments attached for information)

Amendments to extend trading hours (effective from 7 March 2011)    (Marked-up version of amendments attached for information)

Amendments to include the posting of information on the HKEx website as a means of communication between The Stock Exchange of Hong Kong Limited and its participants (effective from 20 September 2010)   (Marked-up version of amendments attached for information)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to new stock option classes with contract size other than one board lot of underlying shares (take effect from 24 June 2010)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to narrowing of strike intervals of stock options (take effect from 2 November 2009)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to increasing the maximum number of connections to each network gateway of HKATS, the automated trading system of the Hong Kong Futures Exchange Limited (take effect from 8 September 2008)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to streamlining the approval and registration process of Responsible Officers and Authorized Persons of Exchange Participants (take effect from 20 June 2008)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to order aggregation for Block Trades (take effect from 28 April 2008)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to dissemination of stock options market data on the information pages of the Automatic Order Matching and Execution System (Page 3000 Series) (take effect from 18 February 2008)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to the use of Client Offset Claim Account (take effect from 3 July 2007)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants to increase the number of expiry months in selected stock option classes (take effect from 2 April 2007)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to streamlining the approval process for introducing options contracts (take effect from 19 October 2006)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to the new market maker model for products of Hong Kong Futures Exchange Limited (take effect from 1 February 2007)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to (i) amending the name of China Mobile (Hong Kong) Limited to China Mobile Limited and (ii) adding Bank of China Limited.  Amendment (i) with effect from 22 June 2006 and amendment (ii), with effect from 3 July 2006

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants relating to adjustments to Stock Options Position Limits and Reporting Levels (take effect from 10 February 2006)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants relating to the introduction of a new option class, China Construction Bank Corporation (take effect from 19 December 2005)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants relating to the introduction of three new option classes, Bank of Communications Co., Ltd., China Netcom Group Corporation (Hong Kong) Limited and Ping An Insurance (Group) Company of China, Ltd. (take effect from 7 November 2005)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to the handling of Capital Adjustments for Special Events and revising the wording of the Adjustment Formula for Cash Distribution (take effect from 1 July 2005)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to the introduction of two new option classes, Denway Motors Limited and Esprit Holdings Limited (take effect from 11 July 2005)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to the abolition of the registration requirements for Options Officers and Options Representatives (take effect from 1 April 2005)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants in relation to the reduction of the trading tariff for Tier 1 stock option classes, the narrowing of strike intervals and the provision of continuous quotations by market makers (take effect from 1 February 2005)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants relating to the introduction of four new option classes, Aluminum Corporation of China Ltd, China Life Insurance Co Ltd, China Telecom Corporation Ltd and China Petroleum & Chemical Corporation (take effect from 14 June 2004)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants relating to the implementation of the Derivatives Clearing And Settlement System (take effect from 6 April 2004)

Amendments to the Operational Trading Procedures for Options Trading Exchange Participants to reflect the change of name of Legend Group Limited to Lenovo Group Limited (take effect from 6 April 2004)