Northbound Program Trading Reporting

On 11 July 2025, the Mainland exchanges issued the reporting requirements for Northbound investors engaged in program trading under the Stock Connect (NB Program Trading Reporting Requirements), effective from 12 January 2026.

Northbound investors should refer directly to the official websites of the Mainland exchanges for the most accurate and up-to-date information relating to the NB Program Trading Reporting Requirements. For ease of reference, this page is created to serve as a centralised platform for disseminating the relevant information.

Circular

• Technical Document on Northbound Program Trading Reporting under Stock Connect
• Publication of Northbound Program Trading Reporting Guidelines by Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE)
• Announcement on Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) Program Trading Management Measures

Technical Documents

• Program Trading Reporting for Northbound Trading under Stock Connect File Interface Specification v1.0

High Frequency Trading Reporting Exemption Application Form

• To be provided in due course 

Northbound Program Trading Reporting Guidelines (“Guidelines”) (in Chinese only)

• SSE’s Guidelines
• SZSE’s Guidelines

Northbound Program Trading Fill-in Instructions (“Instructions”) (in Chinese only)

• SSE’s Instructions
• SZSE’s Instructions

Points to Note for Northbound Program Trading Fill-in and Reporting (“Points to Note”) (in Chinese only)

• SSE’s Points to Note
• SZSE’s Points to Note

Northbound Program Trading Reporting Template (“Reporting Template”) (in Chinese only)

• SSE’s Reporting Template
• SZSE’s Reporting Template

Management Measures (in Chinese only)

• SSE’s Management Measures
• SZSE’s Management Measures

Consultations conducted by SSE and SZSE (in Chinese only)

• SSE’s Consultation
• SZSE’s Consultation