mobile search

Securities Market Makers

HKEX recognises that market makers play an important role in the Exchange Traded Product (ETP) market. Authorised market makers contribute to Hong Kong’s market quality by providing improved liquidity and price efficiency, enabling investors to trade in a timely manner and at a lower transaction cost.

HKEX offers robust trading facilities and a competitive market maker programme that supports our exchange to be Asia’s ETP hub.

funded
COMPETITIVE INCENTIVE SCHEME

Market makers receive both financial and non-financial benefits for providing market liquidity

access
TRADING INFRASTRUCTURE

HKEX robust trading facilities - including a state-of-the-art Tier 4 data centre - allows market makers to trade faster and smarter

Asia
ASIA'S ETP HUB

HKEX is one of the leading ETP markets in Asia in terms of the number of listings, turnover and asset under management (AUM)

partner
CHINA CONNECTION

HKEX is reshaping the global market landscape by connecting Mainland China with the rest of the world

How to Become a Securities Market Maker

Eligibility

An Exchange Participant (EP) satisfying relevant eligibility requirement can apply for Securities Market Maker (SMM) permits from HKEX. The SMM permit is renewable every year subject to satisfactory performance.

Download Eligibility for Securities Market Makers of Exchange Traded Products

Apply for SMM permit

To apply for a SMM permit, an EP should submit application form (Form 10), internal report and documentary evidence showing its affiliate satisfying relevant requirements (if applicable).

Download Application Form

Download Explanatory Note

Market Making Devices

SMM can apply for a Market Making Orion Central Gateway (MMOCG) session at a discounted rate for market making of ETPs.

Download Applocation Form

Download Explanatory Note

Updated 24 Oct 2017

Market Making Arrangements

Market Making Arrangements

Market makers receive incentives and are subject to market making obligations.

Download Market Making Arrangement

ETP Grouping for Market Making Obligations

Market making obligations are determined based on the ETPs grouping.

Download Market Making Obligations Table

For more information about becoming a SMM for an ETP listed on HKEX, please email ETFs@hkex.com.hk or LIProducts@hkex.com.hk.

Updated 01 Dec 2017

Loading