Overview

Issuers

OVERVIEW
LIST OF ISSUERS

Being one of the largest and most active ETP exchanges in Asia, in 1999 HKEX launched the first ETF, since then ETPs have become a core focus of Hong Kong’s asset management industry.

HKEX is a trusted partner in listing ETPs across a range of asset classes to innovative strategies.

For more information about listing an ETP on HKEX, please email ETFs@hkex.com.hk or LIProducts@hkex.com.hk.

Easy Access to Asia

Hong Kong serves as Asia’s asset management hub providing issuers access to retail and professional investors across the region

Competitive Market Maker Programme

Leverage a diverse set of market makers with trading experience in international and China capital markets helping to ensure a deep pool of liquidity

Collaborative Regulatory Environment

Hong Kong regulators support the growth of ETPs through improving market structure and promoting market awareness

China Connection

HKEX is reshaping the global market landscape by connecting Mainland China with the rest of the world

Apply to List on HKEX

Exchange Traded Product (ETP) issuers must be licensed by the Securities and Futures Commission (SFC) prior to issuance of any ETP in Hong Kong. Potential ETP issuers should contact the SFC for information about their eligibility as ETP issuers.

Leveraged and Inverse Product (L&I Product) issuers are required to fulfil additional eligibility requirements.

See more: SFC’s Supplemental Circular on Leveraged and Inverse Products

	Pursuant to the Securities and Futures Ordinance (SFO), authorisation by the SFC is required for all ETPs listed in Hong Kong. The Code on Unit Trusts and Mutual Funds establishes guidelines for the authorization of collective investment schemes (CIS) which include ETFs and L&I Products. Potential ETP issuers should seek authorization of their ETPs from the SFC prior to seeking a listing on SEHK.
	For authorisation of L&I Products, please also refer to the SFC’s Supplemental Circular on Leveraged and Inverse Products which set out the additional requirements under which the SFC would consider when authorising L&I Products.
	For fees charged by the SFC for ETP authorisation, please contact the SFC directly.

See more:

SFC’s Guide on Practices and Procedures for Application for Authorization of Unit Trusts and Mutual Funds

SFC’s Frequently Asked Questions on Application Procedures for Authorization of Unit Trusts and Mutual Funds under the Revamped Process

ETP issuers and trustees will have to apply to Hong Kong Securities Clearing Company Limited (HKSCC) for the admission of the ETP units as eligible securities for deposit, clearing and settlement in CCASS before the ETP is listed. Potential ETP issuers and trustees are advised to contact HKEX’s Clearing Division as early as possible in parallel with the process of seeking SFC authorisation.

Service agent

HK Conversion Agency Services Limited (HKCAS) can act as a service agent for most ETFs tracking non-Hong Kong equities and L&I Products. As a service agent, HKCAS facilitates the book-entry deposit / withdrawal of the ETP units into / from CCASS for the ETP units created / redeemed outside CCASS.
The ETP issuer, as a manager, trustee (or custodian as the case maybe), registrar, Participating Dealers (PDs) and its agent (where applicable) and any other relevant parties are required to sign a service agreement with HKSCC and HKCAS.

Conversion agent

HKCAS can act as a conversion agent for most ETFs tracking Hong Kong equities. As a conversion agent, HKCAS facilitates the settlement of ETP unit creation and redemption instructions submitted by PDs via CCASS.
A participation agreement (signed by the ETP issuer, trustee, PD, HKSCC, HKCAS and any other relevant parties) and a conversion agency agreement (signed by the ETP issuer, HKSCC and HKCAS) are required.

	After obtaining the SFC’s authorisation with conditions, a formal listing application of ETPs can be submitted to the Listing Division of HKEX. Listings of ETPs are regulated under Chapter 20 of the Listing Rules and the application form is available on HKEX website.
	For fees charged by HKEX for listing of ETPs, please refer to Section 3 under Appendix 8 of the Listing Rules.

After obtaining the SFC’s authorisation with conditions, ETP issuers are advised to contact HKEX’s ETP team at ETFs@hkex.com.hk or LIProducts@hkex.com.hk in relation to market making arrangements.

	After obtaining all the necessary authorisation and approvals, the ETP will be listed on SEHK for trading.
	Download Guidance to ETF industry

Updated 28 Sep 2017

Issuers

Apply to List on HKEX

Eligibility of ETP Issuers

Authorisation by the SFC

Admission for Clearing

Listing Approval by SEHK

Admission for Market Making

Listing on SEHK

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