Hong Kong Exchanges and Clearing Limited (HKEx) was informed that the Securities and Futures Commission has issued a restriction notice on Salisbury Securities Limited (broker numbers: 8410 and 8419) under sections 204 and 205 of the Securities and Futures Ordinance.

As a consequence, The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEx, has suspended the Exchange Participant’s right to access the Exchange’s trading system, until further notice under Rule 704 of the Exchange.  Hong Kong Securities Clearing Company Limited (HKSCC), also a wholly-owned subsidiary of HKEx, has declaredSalisbury Securities Limited a defaulter under Rule 3702 of the General Rules of CCASS, the Central Clearing and Settlement System.

Pursuant to its default procedures, HKSCC will effect closing-out of the unsettled stock positions of Salisbury Securities Limited by entering opposite transactions to offset the unsettled stock positions.  The effect of this action is to arrive at a net sum payable by or to the defaulter.

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