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Volatility Control Mechanism (VCM)

The Volatility Control Mechanism (VCM) in the securities market and the derivatives market was launched on 22 August 2016 and 16 January 2017 respectively.  The initiative represents the major microstructure upgrades for the securities and derivatives markets in the short to medium term to enhance HKEX’s overall competitiveness.  This page focuses on implementation details for the derivatives market.

B02A24241D934714AD273561037F6D6D Overview of VCM and Tentative Timeline
B02A24241D934714AD273561037F6D6D Consultation Conclusions
B02A24241D934714AD273561037F6D6D Frequently Asked Questions
B02A24241D934714AD273561037F6D6D Trading Mechanism of Volatility Control Mechanism (VCM) in the Derivatives Market
B02A24241D934714AD273561037F6D6D Circulars
B02A24241D934714AD273561037F6D6D End of Stabilisation Period for Volatility Control Mechanism (“VCM”) in Derivatives Market
B02A24241D934714AD273561037F6D6D Launch of Volatility Control Mechanism (“VCM”) in Derivatives Market
B02A24241D934714AD273561037F6D6D Launch of Volatility Control Mechanism (“VCM”) in Derivatives Market
B02A24241D934714AD273561037F6D6D Tentative Launch Date for Volatility Control Mechanism (“VCM”) in Derivatives Market
B02A24241D934714AD273561037F6D6D Market Rehearsal and Briefing Session for the Implementation of the Volatility Control Mechanism (“VCM”) in Derivatives Market
B02A24241D934714AD273561037F6D6D OMnet Application Programming Interface (“OAPI”) Testing Environment for the Implementation of Volatility Control Mechanism (“VCM”) in Derivatives Market
Appendix 1 : Request for OAPI Verification Test
B02A24241D934714AD273561037F6D6D Web Corner and Briefing Sessions for the Introduction of Volatility Control Mechanism
B02A24241D934714AD273561037F6D6D HKEx Decides to Introduce Volatility Control Mechanism and Closing Auction Session
B02A24241D934714AD273561037F6D6D Technical Documents
B02A24241D934714AD273561037F6D6D OAPI Technical Documentations
B02A24241D934714AD273561037F6D6D Other References
B02A24241D934714AD273561037F6D6D Briefing Sessions for the “Implementation of Volatility Control Mechanism (VCM) in Derivatives Market and Market Rehearsal” (Sep 2016)
B02A24241D934714AD273561037F6D6D Presentation by HKEX Head of Markets Roger Lee at a Media Workshop on Closing Auction Session (CAS) and Volatility Control Mechanism (VCM)
B02A24241D934714AD273561037F6D6D Briefing Sessions for the ”Implementation of Closing Auction Session and Volatility Control Mechanism” (May 2016)
B02A24241D934714AD273561037F6D6D Briefing Sessions for the “Implementation Details of Volatility Control Mechanism and Closing Auction Session” (Aug and Sep 2015)
B02A24241D934714AD273561037F6D6D Consultation Paper
B02A24241D934714AD273561037F6D6D News Release: HKEx Decides to Introduce Volatility Control Mechanism and Closing Auction Session
Email Contact for Enquiries : ClickSupport@hkex.com.hk

 


Updated 02 Feb 2017

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