Market Turnover
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Self-Match Prevention (SMP)

Self-Match Prevention (“SMP”) is a free and optional service for market participants (i.e. exchange participants and/or their clients) to avoid inadvertent self-trades at exchange level.  SMP was available in derivatives market since 2019 (“HKATS Username- based SMP”).  Market participants (i.e. exchange participants and/or their clients) who enable HKATS Username-based SMP for specific HKATS Username(s), orders from such HKATS Username(s) will not be matched with other orders within the same HKATS Customer Code by cancelling the aggressive orders.

Hong Kong Exchanges and Clearing Limited (“HKEX”) plans to enhance the SMP service and will provide a new SMP model (“ID-based SMP”) in the derivatives market in Q2 2024, subject to market readiness and regulatory approval.

Key features of the new model include, i) introduction of SMP ID as identifier for triggering SMP; ii) cancel aggressive and cancel passive as the order cancellation methods; iii) multi-broker model

 

Reference Materials 

 

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Updated 19 Oct 2023