Removal of Parallel Trading Arrangement Rescheduled to Second Half of Next Year
Market Operations
23 Jul 2008
Hong Kong Exchanges and Clearing Limited (HKEx) announced today (Wednesday) that removal of the parallel trading arrangement for its securities market has been rescheduled to the second half of next year to give market participants more time to prepare for the changes.
HKEx announced on 22 April this year a plan to remove the arrangement on 3 November this year, subject to market readiness. Since then, HKEx has contacted market participants as planned to discuss the progress of their preparations and their latest views on the plan. While there is market-wide support for the removal of the parallel trading arrangement, some participants have requested more time to make the necessary operational and system changes. Therefore, HKEx has decided to postpone the implementation of the initiative.
HKEx will publish a document later this year with details of the operational implications of the removal of parallel trading and will continue to work closely with market participants to ensure the smooth implementation of the planned changes. The revised implementation timetable will be announced early next year.