- After-Hours Trading Session to be extended by two hours to 3 am
- Customers will be able to better tap Hong Kong’s market, managing their risk and capitalizing on opportunities
Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Monday) that it is to extend its after-hours trading session (T+1 Session) by two hours. Effective Monday 17 June 2019, trading in the T+1 Session will be open from 5:15 pm to 3 am. As well, the T+1 Session Cutoff Time (the deadline for system input of post-trade after the T+1 Session) will be extended from 1:45 am to 3 am.
Calvin Tai, HKEX’s Co-President and Chief Operating Officer said, “We are committed to continuously improving our trading platform to meet investment and risk-management needs of our customers around the world. This latest enhancement will provide them greater flexibility to capture investment opportunities during the US market hours and effect timely risk-management actions.”
HKEX announced plans in 2017 to enhance after-hours trading on its markets, to 3 am, in phases. Trading in the T+1 Session was extended to 1 am the next day, from 11:45 pm, in November 2017; while options contracts, as well as a trading halt mechanism for index options in the T+1 Session, were introduced in May 2018.
The T+1 Session has proven to be very popular with investors since it was launched in 2013 to initially offer trading in equity index futures, while products of other asset classes including currencies and commodities were progressively included in the T+1 Session. Futures trading volumes in the T+1 Session has seen a 50 per cent compound annual growth rate since 2013, and now1 accounts for around 18 per cent of the day trading session, compared with 4 per cent in 20132.
Equity index options, which were added to the T+1 Session last year, now account for nearly 7 per cent of day trading session, with over 10,500 contracts traded during each session.
For further details about the enhancement and the T+1 session, please refer to the circular issued today and After-Hours Trading section on the HKEX website.
1 Data up to 17 May 2019
2 Data from 8 April 2013 to the end of 2013
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, 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.