Market Turnover
-






-
-
|
|
|
|
|
|
-
-
-
Loading

Reduction of Minimum Spreads

Phase 1 effective on 4 August 2025; Phase 2 to be implemented around mid-2026. 
The reduction of minimum spreads aims to lower trading costs, improve price discovery and execution efficiency, and enhance global competitiveness. 

Final implementation model:

 

Phase 1

Phase 2

Launch date

4 August 2025

Around mid-2026

Applicable securities

Equities, Real Estate Investment Trusts (REITs), equity warrants and other Applicable Securities

(excluding Exchange Traded Products (ETPs), debt securities, Exchange Traded Options (ETOs) and Structured Products)

Spread table changes

Price band

Original min. spread

New min. spread

Price band

Original min. spread

New min. spread

$10 - $20

$0.02

$0.01

(-50%)

$0.5 - $10

$0.01

$0.005

(-50%)

$20 - $50

$0.05

$0.02

(-60%)

 

 

Reference Materials and Frequently Asked Questions

 


Updated 10 Apr 2026

Phase 2

Updated 10 Apr 2026

Phase 1

Updated 10 Apr 2026

Inquiries

For Exchanges Participants’ inquiries under the Reduction of Minimum Spreads, please contact otpc@hkex.com.hk.


This page will be updated regularly to provide all relevant information in relation to the implementation arrangements of the reduction of minimum spreads.

 

Updated 10 Apr 2026