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HKEX Shortens Structured Product Listing Cycle

Market Operations
29 Jun 2020

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Monday) that it will shorten the listing cycle of structured products to three trading days from five trading days.

Issuers will be able to list their structured products, such as Derivative Warrants (DW), Callable Bull/ Bear Contracts (CBBC) and Inline Warrants (IW), on the cash market for trading on the third trading day after their submission of term sheets. The new listing cycle will enhance market efficiency on product issuance, and help increase product choices for investors. Products launched on or after 13 July 2020 will use the new listing cycle.

“A shorter structured product listing cycle will help issuers better respond to changing market conditions, boosting the efficiency and responsiveness of our market. This is an important step as we further enhance and grow our structured product market, which has been the world’s number one in turnover for over a decade,” said HKEX Head of Markets Wilfred Yiu.

A shorter listing cycle has been made possible by the adoption of the electronic submission of documents and other streamlined processes.  The shorter cycle is applicable to all listed structured products on all eligible underlying assets. 

The publication timeline of supplemental listing documents will remain unchanged, and investors can have access to the documents via HKEXnews on the day following launch.

For more information about HKEX listed structured products, please refer to Structured Products Corner on HKEX website.

 

About HKEX

Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets.  HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.

HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited.  This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.

HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.

www.hkexgroup.com

 

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Updated 31 Jul 2020