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Stock Options

The List of Stock Option Classes Available for Trading 


a)
 Stock Option Classes with Contract Size More Than One Underlying Board Lot Shares 

Effective from 18 June 2020 

No. SEHK Code Underlying Stock Name HKATS Code Contract Size (shares) Number of Board Lots Tier No.* Position Limit ##
Approved by FSC Taiwan
1 16   Sun Hung Kai Properties Limited SHK  1,000  1 50,000   
2  175 Geely Automobile Holdings Ltd.  GAH  5,000 1 50,000  
 3 288  WH Group Ltd.   WHG 2,500  100,000   
 4 688  China Overseas Land & Investment Limited  COL 2,000   4  1 50,000   
5 788  China Tower Corporation Limited  XTW 10,000  2 150,000   
6 823 Link Real Estate Investment Trust LNK 1,000 10 1 50,000
7 1099  Sinopharm Group Co. Ltd. SNP  800  2 50,000   
8 1113 CK Asset Holdings Limited CKP 1,000 2 1 50,000
 9 1177  Sino Biopharmaceutical Ltd.   SBO 5,000  50,000   
10 1288 Agricultural Bank of China Limited  XAB 10,000 10 1 50,000
11 1299 AIA Group Limited AIA 1,000 5 1 150,000
12 1336 New China Life Insurance Co. Ltd. NCL 1,000 10 1 50,000
13 1339 The People's Insurance Company (Group) of China Limited PIN 5,000 5 2 50,000
14 1359 China Cinda Asset Management Co., Ltd CDA 5,000 5 3                         50,000
 15 1658 Postal Savings Bank of China Co. Ltd. XPB  5,000  2 50,000   
16 1810 XiaoMi Corporation MIU  1,000  3 150,000   
17 1816 CGN Power Co., Ltd CGN 10,000 10 2 50,000
 18 1876 Budweiser Brewing Company APAC Limited  BUD 1,000 10 1 50,000  
 19 1918  Sunac China Holdings Ltd. SUN  2,000 1 50,000  
20 1988 China Minsheng Banking Corporation Limited MSB 2,500 5 2             50,000
21 2007 Country Garden Holdings Co. Ltd.  COG 5,000  1 50,000  
22 2018 AAC Technologies Holdings Inc. AAC 1,000 2 1 50,000
23 2202  China Vanke Co. Ltd.  VNK 1,000  10  1 50,000   
24 2238  Guangzhou Automobile Group Co. Ltd. GAC  4,000  1 50,000  
 25 2313  Shenzhou International Group Holdings Ltd.  SHZ  500  50,000   
26 2382  Sunny Optical Technology (Group) Co. Ltd.  SNO  1,000   10 1 50,000  
27 2601 China Pacific Insurance (Group) Co., Ltd. CPI 1,000 5 1                       100,000
28 2822 CSOP FTSE China A50 ETF  CSA 5,000 25 1 50,000
29 2823 iShares FTSE A50 China Index ETF A50 5,000 50 1 50,000
30 2828 Hang Seng China Enterprises Index ETF HCF 1,000 5 1 50,000
31 3188 ChinaAMC CSI 300 Index ETF  AMC 2,000 10 1 50,000
32 3333 China Evergrande Group EVG  2,000  1 50,000  
33 3690 Meituan Dianping MET  500  1 150,000   
34 6030 CITIC Securities Co. Ltd. CTS 1,000 2 2             150,000
35 6837 Haitong Securities Co., Ltd. HAI 2,000 5 2 50,000
36 9618   JD.com, Inc. JDC 500   10 50,000   
37  9988  Alibaba Group Holding Ltd.  ALB 500   5  1 50,000   
38  9999 NetEase, Inc.  NTE  500  1 50,000   
  

b)   Stock Option Classes with Contract Size Equal to One Underlying Board Lot Shares

Effective from 18 June 2020   

No. SEHK Code Underlying Stock Name HKATS Code Contract Size (shares) Tier
No.*
Position
Limit ##
Approved by FSC Taiwan+
 1 1 CK Hutchison Holdings Ltd.  CKH  500  100,000   
2 2 CLP Holdings Limited CLP 500 1 50,000
3 3 The Hong Kong and China Gas Company Limited HKG 1,000 2 150,000
4 4 The Wharf (Holdings) Limited WHL 1,000  2 50,000
5 5 HSBC Holdings Plc.                       HKB 400 2 150,000
6 6 Power Assets Holdings Limited HEH 500 1 50,000
7 11 Hang Seng Bank Limited HSB 100 2 100,000
8 12 Henderson Land Development Company Limited HLD 1,000 1 50,000
9 17 New World Development Company Limited                      NWD 1,000 150,000
10 19 Swire Pacific Limited SWA 500 1 50,000
11 23 The Bank of East Asia, Limited BEA 200 3 50,000
12 27 Galaxy Entertainment Group Limited GLX 1,000 1 50,000
13 66 MTR Corporation Limited MTR 500 2 50,000
14 135 Kunlun Energy Co. Ltd. KLE 2,000 2 50,000
15 151 Want Want China Holdings Ltd. WWC 1,000 3 100,000
16            267 CITIC Limited CIT 1,000 2 50,000
17 293 Cathay Pacific Airways Limited CPA 1,000 2 50,000  
18 358 Jiangxi Copper Company Limited   JXC 1,000 3 50,000
19 386 China Petroleum & Chemical Corporation CPC 2,000 2 150,000
20 388 Hong Kong Exchanges and Clearing Limited HEX 100 1 150,000
21 390 China Railway Group Limited CRG 1,000 3 100,000
22 489 Dongfeng Motor Group Co. Ltd. DFM 2,000 2 50,000
23 669  Techtronic Industries Co. Ltd.  TIC  500  50,000   
24 700 Tencent Holdings Limited   TCH 100 150,000
25 728 China Telecom Corporation Limited CTC 2,000 3 150,000
26 753 Air China Ltd. AIR  2,000  50,000   
27 762 China Unicom (Hong Kong) Limited CHU 2,000 2 100,000
28 857 PetroChina Company Limited PEC 2,000 3 150,000
29 883 CNOOC Limited CNC 1,000 2 150,000
30 902 Huaneng Power International, Inc.   HNP 2,000 3 100,000
31 914 Anhui Conch Cement Company Limited ACC 500 2 100,000
32 939 China Construction Bank Corporation XCC 1,000 3 150,000
33 941 China Mobile Limited CHT 500 1 150,000
34 992 Lenovo Group Limited LEN 2,000 2 150,000
35 998 China CITIC Bank Corporation Limited CTB 1,000 3 150,000
36 1044 Hengan International Group Co. Ltd. HGN 500 1 50,000
37 1088 China Shenhua Energy Company Limited CSE 500 3 150,000
38 1093 CSPC Pharmaceutical Group Ltd.  CSP 2,000  1 150,000   
39           1109 China Resources Land Ltd. CRL 2,000 1 50,000
40 1171 Yanzhou Coal Mining Company Limited   YZC 2,000 2 50,000
41 1186 China Railway Construction Corporation Limited CRC 500 3 150,000
42 1211 BYD Company Limited   BYD 500           2           50,000
43 1398 Industrial and Commercial Bank of China Limited XIC 1,000 3 150,000
44 1800 China Communications Construction Company Limited                       CCC 1,000          3          100,000
45           1898 China Coal Energy Company Limited CCE 1,000 3 50,000
46 1928 Sands China Ltd. SAN 400 2 150,000
47 2020  ANTA Sports Products Ltd.#  ANA 1,000  50,000   
48 2282 MGM China Holdings Limited MGM 400 3 100,000
49 2318 Ping An Insurance (Group) Company of China, Ltd.   PAI 500 1   150,000
50 2319 China Mengniu Dairy Co. Ltd. MEN 1,000 1 50,000
51 2328 PICC Property and Casualty Company Limited PIC 2,000 2 100,000
52 2333 Great Wall Motor Co. Limited GWM 500 3 150,000
53            2388 BOC Hong Kong (Holdings) Limited BOC 500 2 150,000
54 2600 Aluminum Corporation of China Limited   ALC 2,000             3             50,000
55 2628 China Life Insurance Company Limited CLI 1,000 2 150,000
56 2777 Guangzhou R&F Properties Co., Ltd. RFP 400 3 100,000
57 2800 Tracker Fund of Hong Kong TRF 500 2 150,000
58 2888 Standard Chartered PLC STC 50 3 150,000
59 2899 Zijin Mining Group Company Limited ZJM 2,000 3 100,000
60 3323 China National Building Material Company Limited   NBM 2,000 2 100,000
61 3328 Bank of Communications Co., Ltd. BCM 1,000 3 150,000
62 3888 Kingsoft Corporation Ltd. KSO 1,000 2 100,000
63 3968 China Merchants Bank Co., Ltd.   CMB 500 150,000
64 3988 Bank of China Limited XBC 1,000 3 150,000

*Unless otherwise specified, tier levels of adjusted contracts shall be the same as their standard contracts.
## Position Limit represents the maximum number of open contracts a single party can hold for any stock option class in any one market direction for all expiry months combined (N.B. long calls/short puts combined are in one direction and short calls/long puts combined are in another direction) + Stock Option Classes approved by the Securities and Futures Bureau, Financial Supervisory Commission (“FSC”) of Taiwan to be included in the list of “Foreign Contracts for which Futures Commission Merchants have Trading Authorization".These option classes are eligible for trading by Taiwan investors.



Updated 03 Sep 2020

Contract Summary

 Stock Options


Item


Contract Terms

Underlying Stocks & HKATS Codes

Please refer to the list of stock options
Option Types

Puts and calls
Contract Size

Relevant information regarding contract size and tier level of individual stock option classes can be found in the list of stock options
Contracted Value Option Premium multiplied by the Contract Size
Contract Months Spot, the next three calendar months and the next three calendar quarter months
(The Exchange may introduce any other longer-dated expiry month in selected stock option classes as it deems necessary)

Minimum Fluctuation

HK$0.01

HK$0.001 be introduced in six stock option classes:
1) Bank of China Limited
2) China Construction Bank Corporation
3) Industrial and Commercial Bank of China Limited
4) Agricultural Bank of China Limited
5) Postal Savings Bank of China Co. Ltd.
6) China Tower Corporation Limited

Option Premium

Quoted in HK dollars on a per share basis
Strike Prices


Underlying Prices Interval
From To
(HK$) (HK$) (HK$)
0 2 0.05
2 5 0.1
5 10 0.25
10 20 0.5
20 50 1
50 100 2.5
100 200 2.5
200 300 5
300 500 10

Trading Hours

9:30 am - 12:00 noon & 1:00 pm - 4:00 pm
Expiry Day

The business day immediately preceding the last business day of the contract month
Exercise style
(American)

Options can be exercised at any time up to 6:45 p.m. on any business day and including the last trading day
Exercise Fee
HK$2.00
Settlement



Physical delivery of underlying shares on exercise and settlement period are :
T + 1 (options premium, payable in full) or
T + 2 (stock transfer following exercise)
Trading Tariff Tier 1 HK$3.00
Tier 2 HK$1.00
Tier 3 HK$0.50
Brokerage Commission Negotiable

 

 

Updated 11 Sep 2018

Trading Fees and Commission

Tier 1 Stock Options
HK$3.00 per contract per side
Tier 2 Stock Options
HK$1.00 per contract per side
Tier 3 Stock Options
HK$0.50 per contract per side
Commission
Negotiable
* The amount indicated above is subject to change from time to time.

Online Derivatives Trading

Below is the list of the Exchange Participants who provide online derivatives trading services for investors.

(Product: Stock Options)

Exchange Participant Contact Number Email
Bright Smart Securities (International (H.K.) Ltd. (852) 2537-1371 broker@bsgroup.com.hk
Chief Securities Ltd. (852) 2500-9128 equitiesoption@chiefgroup.com
Core Pacific - Yamaichi Securities (H.K.) Ltd. (852) 2166-3888 info@cpy.com.hk
Emperor Securities Ltd. (852) 2919-2919 esl.cs@emperorgroup.com
Evergrande Securities (Hong Kong) Limited (852) 3550-6988 cs@gisf.hk
I-Access Investors Ltd. (852) 2890-8019 info@i-access.com
ICBC International Securities Ltd. (852) 2683-6216 freeman.to@icbci.com.hk
KGI Securities (Hong Kong) Ltd. (852) 2878-5555 info@kgia.com
Phillip Securities (HK) Ltd. (852) 2277-6622 option@phillip.com.hk
Prudential Brokerage Ltd. (852) 2143-3999 samng@pru.com.hk
SinoPac Securities (Asia) Limited  (852) 2523-6685  cs.asia@sinopac.com
South China Secuirties Ltd. (852) 2111-2222 hotline@sctrade.com
Sun Hung Kai Investment Services Ltd. (852) 2822-5001 enquiry@SHKdirect.com
Tanrich Securities Co. Ltd. (852) 2238-9222 option@tanrich.com
Timber Hill Securities Hong Kong Ltd. (852) 2156-7907 sales@interactivebrokers.com.hk

 

Disclaimer :

Hong Kong Exchanges and Clearing Ltd endeavors to ensure the accuracy and reliability of the information provided, but does not guarantee its accuracy and reliability and accepts no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccurancies or omissions.


List of Market Makers/Liquidity Providers

There are 3 types of market makers in the stock options market:

- Primary Market Maker (PMM); and

- Market maker providing continuous quotes (CQMM); and

- Market maker responding to quote request (QRMM). 

 

For the lists of PMM, CQMM and QRMM please refer to the tables below 

Market Makers           
HKATS
Code
Underlying Stocks AKN BCA BNP BOC CFB CGM  CTD EAF FUL GSF HBF
1 A50 iShares FTSE A50 China Index ETF                *
   

*
2 AAC AAC Technologies Holdings Inc.     * * *
3 XAB Agricultural Bank of China Ltd. P   * * * P *
4 ACC Anhui Conch Cement Co. Ltd.     *
* * *
*
5 AIA AIA Group Ltd. P * * * * P *
6 AIR Air China Ltd.                      
7 ALB Alibaba Group Holding Limited * * * * * *   *
ALC Aluminum Corporation of China Ltd.    

    *  

AMC ChinaAMC CSI 300 Index ETF    


 



10  ANA ANTA Sports Products Limited           *   *        
11  XBC Bank of China Ltd. P   * * * P *
12  BCM Bank of Communications Co. Ltd. *   * * * *
13  BEA The Bank of East Asia, Ltd.     *
*   *

14 BOC BOC Hong Kong (Holdings) Ltd.     * * * * *
15 BUD Budweiser Brewing Company APAC Limited             *     √   
16 BYD BYD Company Ltd.    

*
 


*
17 XCC China Construction Bank Corporation P * * * * P *
18 CCC China Communications Construction Co. Ltd.     * *   * *
19 CCE China Coal Energy Company Ltd.
    *
    *  
20 CDA China Cinda Asset Management Co. Ltd.     * *
   
*
21 CGN CGN Power Co. Ltd.     * *   *
22 CHT China MobileLtd.   * * * P *
23 CHU China Unicom (Hong Kong) Ltd.     *
* * *


*
24 CIT CITIC Ltd.     *
* *  * *
25 CKH CK Hutchison Holdings Ltd. *   * * * *

*
26 CKP CK Asset Holdings Ltd.     * * *  * *
27 CLI China Life Insurance Co. Ltd. P * * * P *
28 CLP CLP Holdings Ltd. *   *
* *  *

*
29 CMB China Merchants Bank Co. Ltd. * * * * * *   *
30 CNC CNOOC Ltd. P * * * P *
31  COG  Country Garden Holdings Co. Ltd.         * * *   *
32 COL China Overseas Land & Investment Ltd.     *
* * *
*
33 CPA Cathay Pacific Airways Ltd.    


 

 
34 CPC China Petroleum & Chemical Corporation P   * * * P   *
35 CPI China Pacific Insurance (Group) Co. Ltd.     *
* * * *
36 CRC China Railway Construction Corp. Ltd.    


 


37 CRG China Railway Group Ltd.     *

*   *


*
38 CRL China Resources Land Ltd.     *

* * *

*
39 CSA CSOP FTSE China A50 ETF    


 

*
40 CSE China Shenhua Energy Co. Ltd.     * * * *
*
41 CSP CSPC Pharmaceutical Group Ltd.       * * *        
42 CTB China CITIC Bank Corporation Ltd.     *
*   *
*
43 CTC China Telecom Corporation Ltd.     * *   *
*
44 CTS CITIC Securities Co. Ltd.     * * * * *
45 DFM Dongfeng Motor Group Co. Ltd.     * *   *  
46 EVG China Evergrande Group           *        
47 GAC Guangzhou Automobile Group Co., Ltd.                      
48 GAH Geely Automobile Holdings Ltd.    
* * * *
49 GLX Galaxy Entertainment Group Ltd. *   *
* * P *
50 GWM Great Wall Motor Company Ltd.     *
* * *
*
51 HAI Haitong Securities Co. Ltd.     *

*
* *
*
52 HCF Hang Seng China Enterprises Index ETF      
53 HEH Power Assets Holdings Ltd.     *
*   *

*
54  HEX Hong Kong Exchanges and Clearing Ltd.  P   * * * P *
55 HGN Hengan International Group Ltd.     * *   *
56 HKB HSBC Holdings plc.  P * * * * P *
57 HKG The Hong Kong and China Gas Co. Ltd.     *   *   *


58 HLD Henderson Land Development Co. Ltd.     *
*   *

59 HNP Huaneng Power International, Inc.     *
*   *

*
60 HSB Hang Seng Bank Ltd. *   *

* * *

*
61 XIC Industrial and Commercial Bank of China Ltd. P * * P
*
62  JDC JD.com, Inc.          *      
63 JXC Jiangxi Copper Company Ltd.     *
*   *  

64 KLE Kunlun Energy Co. Ltd.     * *   * *
65 KSO Kingsoft Corporation Ltd.         *
66 LEN Lenovo Group Ltd.     *
* * *
*
67 LNK Link Real Estate Investment Trust *   * * *  *
68 MEN China Mengniu Dairy Co. Ltd.     *


* *

69  MET Meituan Dianping * * * * * *    
70 MGM MGM China Holdings Ltd.    


 


71  MIU XiaoMi Corporation * * * * * *    
72 MSB China Minsheng Banking Corporation Ltd.     *
* * *
*
73 MTR MTR Corporation Ltd.     * *   *


74 NBM China National Building Material Co. Ltd.     *
* * *
75 NCL New China Life Insurance Co. Ltd.     * * * * *
76 NTE NetEase, Inc.         * *      
77 NWD New World Development Co. Ltd.     *
*   *

78  PAI Pin An Insurance (Group) Co. of China, Ltd. P * * * * P *
79 PEC PetroChina Co. Ltd. P   * * * P *
80 PIC PICC Property and Casualty Co. Ltd.     *
*   *
*
81 PIN The People’s Insurance Company (Group) of China Ltd.     *
*   *

*
82 RFP Guangzhou R&F Properties Co. Ltd.    


 
 

83 SAN Sands China Ltd. *   * * * P
*
84 SBO Sino Biopharmaceutical Limited        *            
85  SHK Sun Hung Kai Properties Ltd. *   *
* * *
*
86 SHZ Shenzhou International Group Holdings Limited          *            
87 SNO Sunny Optical Technology (Group) Co. Ltd. *     * * *    
88 SNP  Sinopharm Group Co. Ltd.         *            
89 STC Standard Chartered PLC    


 




90  SUN Sunac China Holdings Ltd.           * *      
91 SWA Swire Pacific Ltd. 'A'     *
    *
92 TCH Tencent Holdings Ltd. P * * *  * P   *
93 TIC Techtronic Industrial Co., Limited                        
94 TRF Tracker Fund of Hong Kong    


 



95 VNK China Vanke Co. Ltd.         *            
96 WHG WH Group Limited         *            
97 WHL The Wharf (Holdings) Ltd.     *
*             

 
98 WWC Want Want China Holdings Ltd.     * *  
99 XPB Postal Savings Bank of China Co. Ltd.         *  *          
100 XTW China Tower Corporation Limited        *  * *      
101 YZC Yanzhou Coal Mining Company Ltd.     *
    *
 
102  ZJM Zijin Mining Group Company Ltd.     *

*   *  


 
Market Makers
HKATS
Code
Underlying Stocks IBG IMC ISS JAF  JPM LQC
1 A50 iShares FTSE A50 China Index ETF            *
   
2 AAC AAC Technologies Holdings Inc. *  √  
3 XAB Agricultural Bank of China Ltd. *   *  
4 ACC Anhui Conch Cement Co. Ltd. * *

   
5 AIA AIA Group Ltd. *
*  
AIR Air China Ltd. *          
7 ALB Alibaba Group Holding Limited * * √   
ALC Aluminum Corporation of China Ltd. *

   
AMC ChinaAMC CSI 300 Index ETF * *

 
 
10 ANA ANTA Sports Products Limited  * * √       
11  XBC Bank of China Ltd. *  √ *  
12  BCM Bank of Communications Co. Ltd. * *
   
13  BEA The Bank of East Asia, Ltd. *

   
14 BOC BOC Hong Kong (Holdings) Ltd. * *  √  
15 BUD  Budweiser Brewing Company APAC Limited  * *    
16 BYD BYD Company Ltd. * *  
 
17 XCC China Construction Bank Corporation *  √ *  
18 CCC China Communications Construction Co. Ltd. * *
   
19 CCE China Coal Energy Company Ltd. *

   
20 CDA China Cinda Asset Management Co. Ltd. *    
21 CGN CGN Power Co. Ltd. *    
22 CHT China MobileLtd. *
 √ *
23 CHU China Unicom (Hong Kong) Ltd. * *    
24 CIT CITIC Ltd. *

   
25 CKH CK Hutchison Holdings Ltd. * *

   
26 CKP CK Asset Holdings Ltd. * *    
27 CLI China Life Insurance Co. Ltd. * √  * *
28 CLP CLP Holdings Ltd. * *

   
29 CMB China Merchants Bank Co. Ltd. * *    
30 CNC CNOOC Ltd. *
  *  
31  COG Country Garden Holdings Co. Ltd.  * *    
32 COL China Overseas Land & Investment Ltd. * *
   
33 CPA Cathay Pacific Airways Ltd. *

     
34 CPC China Petroleum & Chemical Corporation *   *  
35 CPI China Pacific Insurance (Group) Co. Ltd. * *
   
36 CRC China Railway Construction Corp. Ltd. *

   
37 CRG China Railway Group Ltd. *

   
38 CRL China Resources Land Ltd. * *
 
 
39 CSA CSOP FTSE China A50 ETF *
   
40 CSE China Shenhua Energy Co. Ltd. * *
   
41  CSP CSPC Pharmaceutical Group Ltd.    
42 CTB China CITIC Bank Corporation Ltd. * *

   
43 CTC China Telecom Corporation Ltd. * *
   
44 CTS CITIC Securities Co. Ltd. * *    
45 DFM Dongfeng Motor Group Co. Ltd. *

   
46 EVG China Evergrande Group  *      
47 GAC Guangzhou Automobile Group Co., Ltd.         
48 GAH Geely Automobile Holdings Ltd. * *  
49 GLX Galaxy Entertainment Group Ltd. *  √  
50 GWM Great Wall Motor Company Ltd. * *    
51 HAI Haitong Securities Co. Ltd. *

*



 

 
52 HCF Hang Seng China Enterprises Index ETF *    
53 HEH Power Assets Holdings Ltd. *

   
54 HEX Hong Kong Exchanges and Clearing Ltd. *
√  *
55 HGN Hengan International Group Ltd. * *    
56 HKB HSBC Holdings plc. * √  * *
57 HKG The Hong Kong and China Gas Co. Ltd. * *

  √     
58 HLD Henderson Land Development Co. Ltd. * *

   
59 HNP Huaneng Power International, Inc. *

   
60 HSB Hang Seng Bank Ltd. *
*

   
61 XIC Industrial and Commercial Bank of China Ltd. * *  
62 JDC JD.com, Inc.    * √   
63 JXC Jiangxi Copper Company Ltd. * *
   
64 KLE Kunlun Energy Co. Ltd. *    
65 KSO Kingsoft Corporation Ltd. * *  
 
66 LEN Lenovo Group Ltd. * *

   
67 LNK Link Real Estate Investment Trust * *    
68 MEN China Mengniu Dairy Co. Ltd. * *    
69  MET Meituan Dianping *  *  √  
70 MGM MGM China Holdings Ltd. *


 
 
71 MIU XiaoMi Corporation * *  √  
72 MSB China Minsheng Banking Corporation Ltd. * *

   
73 MTR MTR Corporation Ltd. * *

  √   
74 NBM China National Building Material Co. Ltd. * *
   
75 NCL New China Life Insurance Co. Ltd. * *    
76 NTE NetEase, Inc.    * √   
77 NWD New World Development Co. Ltd. * *

   
78 PAI Ping An Insurance (Group) Co. of China, Ltd. *
 √ *
79 PEC PetroChina Co. Ltd. *
   
80 PIC PICC Property and Casualty Co. Ltd. * *
   
81 PIN The People’s Insurance Company (Group) of China Ltd. *

   
82 RFP Guangzhou R&F Properties Co. Ltd. *

     
83 SAN Sands China Ltd. *
 √  
84  SBO Sino Biopharmaceutical Limited  *    
85 SHK Sun Hung Kai Properties Ltd. * *    
86  SHZ Shenzhou International Group Holdings Limited  * √       
87 SNO Sunny Optical Technology (Group) Co. Ltd.   *  √  
88 SNP Sinopharm Group Co. Ltd.      
89 STC Standard Chartered PLC

 
 
90 SUN  Sunac China Holdings Ltd.  *    
91 SWA Swire Pacific Ltd. 'A' *

   
92 TCH Tencent Holdings Ltd. *
 √ * *
93   TIC Techtronic Industrial Co., Limited         
94 TRF Tracker Fund of Hong Kong *
 
 
95 VNK  China Vanke Co. Ltd. *      √  
96 WHG WH Group Limited  *   √       
97 WHL The Wharf (Holdings) Ltd. * *
     
98 WWC Want Want China Holdings Ltd. *    
99 XPB Postal Savings Bank of China Co. Ltd. * *     *  
100 XTW China Tower Corporation Limited    * √  *  
101 YZC Yanzhou Coal Mining Company Ltd. *

              
102 ZJM Zijin Mining Group Company Ltd. *

   
 
 
Market Makers
HKATS
Code
Underlying Stocks  MAK MEA MSA NHT NTX OPT PHL SGS
1 A50 iShares FTSE A50 China Index ETF                P P
 
2 AAC AAC Technologies Holdings Inc.   * *
3 XAB Agricultural Bank of China Ltd. * * P

4 ACC Anhui Conch Cement Co. Ltd.  
* *

5 AIA AIA Group Ltd. * P
*
AIR Air China Ltd.           *    
7 ALB Alibaba Group Holding Limited   * *    
ALC Aluminum Corporation of China Ltd.  

*

AMC ChinaAMC CSI 300 Index ETF  

* *

10  ANA ANTA Sports Products Limited     *   *    
11  XBC Bank of China Ltd. * P P

12  BCM Bank of Communications Co. Ltd.  
* *

13  BEA The Bank of East Asia, Ltd.  


*

14 BOC BOC Hong Kong (Holdings) Ltd.   *
*

15 BUD Budweiser Brewing Company APAC Limited      *    
16 BYD BYD Company Ltd.  
*
*


17 XCC China Construction Bank Corporation * P P
*
18 CCC China Communications Construction Co. Ltd.  
* *

19 CCE China Coal Energy Company Ltd.  

*

20 CDA China Cinda Asset Management Co. Ltd.   *
21 CGN CGN Power Co. Ltd.   *
22 CHT China MobileLtd.   P P
*
23 CHU China Unicom (Hong Kong) Ltd.   * *

24 CIT CITIC Ltd.  
* *

25 CKH CK Hutchison Holdings Ltd.  
* *

26 CKP CK Asset Holdings Ltd.   * *
27 CLI China Life Insurance Co. Ltd. * P P
*
28 CLP CLP Holdings Ltd.  
* *

29 CMB China Merchants Bank Co. Ltd.   * *

30 CNC CNOOC Ltd.   P P

31 COG Country Garden Holdings Co. Ltd.           
32 COL China Overseas Land & Investment Ltd.   * *

33 CPA Cathay Pacific Airways Ltd.  




34 CPC China Petroleum & Chemical Corporation   P P

35 CPI China Pacific Insurance (Group) Co. Ltd.  
* *

36 CRC China Railway Construction Corp. Ltd.
 

*

37 CRG China Railway Group Ltd.
 

*

38 CRL China Resources Land Ltd.  
*
*

39 CSA CSOP FTSE China A50 ETF     P P

40 CSE China Shenhua Energy Co. Ltd.   * *

41 CSP CSPC Pharmaceutical Group Ltd.       *    
42 CTB China CITIC Bank Corporation Ltd.  
* *

43 CTC China Telecom Corporation Ltd.   * *

44 CTS CITIC Securities Co. Ltd.   * *
45 DFM Dongfeng Motor Group Co. Ltd.   *
46 EVG China Evergrande Group     *   *    
47 GAC Guangzhou Automobile Group Co., Ltd.   √           
48 GAH Geely Automobile Holdings Ltd.   * * *
49 GLX Galaxy Entertainment Group Ltd.  
* P
*
50 GWM Great Wall Motor Company Ltd.  
* *

51 HAI Haitong Securities Co. Ltd.   * *
52 HCF Hang Seng China Enterprises Index ETF  
*
53 HEH Power Assets Holdings Ltd.  

*

54 HEX Hong Kong Exchanges and Clearing Ltd.   P P
*
55 HGN Hengan International Group Ltd.   *
56 HKB HSBC Holdings plc.   P
*
57 HKG The Hong Kong and China Gas Co. Ltd.  

*

58 HLD Henderson Land Development Co. Ltd.   *
*

59 HNP Huaneng Power International, Inc.  
   *

60 HSB Hang Seng Bank Ltd.   *
*

61 XIC Industrial and Commercial Bank of China Ltd. * P
*
62 JDC JD.com, Inc.   *      
63 JXC Jiangxi Copper Company Ltd.  
*

64 KLE Kunlun Energy Co. Ltd.   *
65 KSO Kingsoft Corporation Ltd.   * *
66 LEN Lenovo Group Ltd.   * *

67 LNK Link Real Estate Investment Trust   *
68 MEN China Mengniu Dairy Co. Ltd.  



* *
69  MET Meituan Dianping   √  *      
70 MGM MGM China Holdings Ltd.    

 

71  MIU XiaoMi Corporation   * *    
72 MSB China Minsheng Banking Corporation Ltd.  
* *

73 MTR MTR Corporation Ltd.  
*
*

74 NBM China National Building Material Co. Ltd.    
* *

75 NCL New China Life Insurance Co. Ltd.   * *
76 NTE NetEase, Inc.    *   *    
77 NWD New World Development Co. Ltd.  

*

78 PAI Ping An Insurance (Group) Co. of China, Ltd. * P
*
79 PEC PetroChina Co. Ltd.   P

80 PIC PICC Property and Casualty Co. Ltd.  
* *

81 PIN The People’s Insurance Company (Group) of China Ltd.  

*

82 RFP Guangzhou R&F Properties Co. Ltd.    




83 SAN Sands China Ltd.    √

84  SBO Sino Biopharmaceutical Limited   *   *    
85 SHK Sun Hung Kai Properties Ltd.   * *
 *
86  SHZ Shenzhou International Group Holdings Limited       *   *    
87 SNO  Sunny Optical Technology (Group) Co. Ltd.   *      
88 SNP Sinopharm Group Co. Ltd.     *   *    
89 STC Standard Chartered PLC  




90 SUN
 Sunac China Holdings Ltd.   *      
91 SWA Swire Pacific Ltd. 'A'  
*
92 TCH Tencent Holdings Ltd. * P
*
93  TIC Techtronic Industrial Co., Limited       *   *    
94 TRF Tracker Fund of Hong Kong  




95 VNK China Vanke Co. Ltd.   *   *    
96  WHG WH Group Limited          *    
97 WHL The Wharf (Holdings) Ltd.    

 

98 WWC Want Want China Holdings Ltd.   *
99  XPB  Postal Savings Bank of China Co. Ltd.       *   *    
100  XTW  China Tower Corporation Limited   *   *    
101 YZC Yanzhou Coal Mining Company Ltd.  
* *

102 ZJM Zijin Mining Group Company Ltd.  

*

 
Market Makers
HKATS
Code
Underlying Stocks SQH TGS TFF UWD YKR
1 A50 iShares FTSE A50 China Index ETF             


2 AAC AAC Technologies Holdings Inc. *
3 XAB Agricultural Bank of China Ltd.

*
4 ACC Anhui Conch Cement Co. Ltd.

*
5 AIA AIA Group Ltd.  
*
AIR Air China Ltd.         *
7 ALB Alibaba Group Holding Limited *     *
ALC Aluminum Corporation of China Ltd.

AMC ChinaAMC CSI 300 Index ETF

10  ANA ANTA Sports Products Limited          *
11  XBC Bank of China Ltd. *
*
12  BCM Bank of Communications Co. Ltd.

*
13  BEA The Bank of East Asia Ltd.
 
14 BOC BOC Hong Kong (Holdings) Ltd.

*
15 BUD Budweiser Brewing Company APAC Limited         
16 BYD BYD Company Ltd.

*
17 XCC China Construction Bank Corporation *
  *
18 CCC China Communications Construction Co. Ltd.

*
19 CCE China Coal Energy Company Ltd.

20 CDA China Cinda Asset Management Co. Ltd. *
21 CGN CGN Power Co. Ltd. *
22 CHT China MobileLtd.   * *
23 CHU China Unicom (Hong Kong) Ltd.  
*
24 CIT CITIC Ltd.



*
25  CKH CK Hutchison Holdings Ltd.

*
26 CKP CK Asset Holdings Ltd.   *
27 CLI China Life Insurance Co. Ltd.     *
28 CLP CLP Holdings Ltd.

*
29 CMB China Merchants Bank Co. Ltd.



*
30 CNC CNOOC Ltd.
*
31 COG Country Garden Holdings Co. Ltd.       *
32 COL China Overseas Land & Investment Ltd.
*
33 CPA Cathay Pacific Airways Ltd.

 
34 CPC China Petroleum & Chemical Corporation
*
35 CPI China Pacific Insurance (Group) Co. Ltd.



*
36 CRC China Railway Construction Corp. Ltd.

 
37  CRG China Railway Group Ltd.


 
38 CRL China Resources Land Ltd.


*
39  CSA CSOP FTSE China A50 ETF


40  CSE China Shenhua Energy Co. Ltd.



*
41 CSP CSPC Pharmaceutical Group Ltd.       *
42  CTB China CITIC Bank Corporation Ltd.

*
43 CTS CITIC Securities Co. Ltd. *
44  CTC China Telecom Corporation Ltd.
*
45 DFM Dongfeng Motor Group Co. Ltd.  
46 EVG China Evergrande Group         
47 GAC  Guangzhou Automobile Group Co., Ltd.         
48 GAH Geely Automobile Holdings Ltd.   *
49  GLX Galaxy Entertainment Group Ltd.  
*
50  GWM Great Wall Motor Company Ltd.

 
51  HAI Haitong Securities Co. Ltd.


  *
52 HCF Hang Seng China Enterprises Index ETF
53  HEH Power Assets Holdings Ltd.

*
54 HEX Hong Kong Exchanges and Clearing Ltd.  



*
55  HGN Hengan International Group Ltd. *
56  HKB HSBC Holdings plc. * * *
57  HKG The Hong Kong and China Gas Co. Ltd.
 
*
58  HLD Henderson Land Development Co. Ltd.



*
59  HNP Huaneng Power International, Inc.

 
60  HSB Hang Seng Bank Ltd.

*
61 XIC Industrial and Commercial Bank of China Ltd. *
  *
62 JDC JD.com, Inc.         
63  JXC Jiangxi Copper Company Ltd.

64  KLE Kunlun Energy Co. Ltd.  
65  KSO Kingsoft Corporation Ltd.

66  LEN Lenovo Group Ltd.  
67 LNK Link Real Estate Investment Trust *
68  MEN China Mengniu Dairy Co. Ltd.
*
69  MET Meituan Dianping       *
70  MGM MGM China Holdings Ltd.



71 MIU XiaoMi Corporation    √   *
72  MSB China Minsheng Banking Corporation Ltd.

*
73  MTR MTR Corporation Ltd.

*
74  NBM China National Building Material Co. Ltd.  
 
75 NCL New China Life Insurance Co. Ltd.
*
76 NTE NetEase, Inc.         
77  NWD New World Development Co. Ltd.
 
*
78  PAI Ping An Insurance (Group) Co. of China, Ltd.

*
79  PEC PetroChina Co. Ltd.

*
80  PIC PICC Property and Casualty Co. Ltd.  
*
81  PIN The People’s Insurance Company (Group) of China Ltd.

*
82  RFP Guangzhou R&F Properties Co. Ltd.

83  SAN Sands China Ltd. √ 
*
84  SBO Sino Biopharmaceutical Limited        *
85  SHK Sun Hung Kai Properties Ltd.  



*
86  SHZ Shenzhou International Group Holdings Limited         *
87  SNO Sunny Optical Technology (Group) Co. Ltd.        *
88 SNP Sinopharm Group Co. Ltd.         *
89  STC Standard Chartered PLC

90 SUN   Sunac China Holdings Ltd.       *
91  SWA Swire Pacific Ltd. 'A'

*
92 TCH Tencent Holdings Ltd. *
  *
93  TIC Techtronic Industrial Co., Limited          *
94  TRF Tracker Fund of Hong Kong

95 VNK China Vanke Co. Ltd.         *
96 WHG WH Group Limited          *
97  WHL The Wharf (Holdings) Ltd.



98  WWC Want Want China Holdings Ltd.   *
99 XPB  Postal Savings Bank of China Co. Ltd.       *
100   XTW China Tower Corporation Limited        *
101 YZC Yanzhou Coal Mining Company Ltd.



102  ZJM Zijin Mining Group Company Ltd.

 
P - Denotes PMM
* - Denotes CQMM

- Denotes QRMM

Market Making obligations and Incentives

Stock Options

There are three types of market makers in HKEX’s stock options market: 

- Primary Market Maker (PMM);

- Market maker providing continuous quotes (CQMM); and

- Market maker responding to quote request (QRMM). 

For details of PMM Program, please refer to the hyperlink below:

http://www.hkex.com.hk/eng/market/dv_tradfinfo/pmm.htm

 Below is a summary of the CQMM and QRMM program:

Market Making Obligation Provision of
Continuous Quotes (CQ)
Response to
Quote Requests (QR)
Assigned Series # Not less than50 option series in an option class QR issued in options series in an option class
Trading Requirement Provision of CQ for the assigned option series in an option class for 50% or more of the trading hours in a month Response to 50% or more QR in an option class in a month
Maximum Time Limit for Responding to QR N/A Response within 20 seconds on receipt ofa QR
Minimum Display Time (QR) N/A At least 20 seconds, unless a change in the underlying stock price occurs during the 20 seconds display period
Maximum Bid/Offer Spread Option Series Liquidity Level 1* Liquidity Level 2*
Spot month with 3 days or less to expiry 20% of the bid price of the quote or 3 times the best bid/offer spread of the underlying securities, whichever is the lower. 20% of the bid price of the quote or 4 times the best bid/offer spread of the underlying securities, whichever is the lower.
Spot month with 4 days or more to expiry and the next 3calendar expiry months 10% of the bid price of the quote or 3 times the best bid/offer spread of the underlying securities, whichever is the lower. 10% of the bid price of the quote or 4 times the best bid/offer spread of the underlying securities, whichever is the lower.
The next 2 calendar quarter expiry months 20% of the bid price of the quote or 4 times the best bid/offer spread of the underlying securities, whichever is the lower. 20% of the bid price of the quote or 6 times the best bid/offer spread of the underlying securities, whichever is the lower.
The 3rd calendar quarter expiry month and any other longer-dated expiry month as the Exchange deems necessary 20% of the bid price of the quote or 8 times the best bid/offer spread of the underlying securities, whichever is the lower. 20% of the bid price of the quote or 12 times the best bid/offer spread of the underlying securities, whichever is the lower.
Minimum Quote Size Liquidity Level1 -30 contracts
Liquidity Level2 -15 contracts

# Stock Options

CQMM should provide bid / offer quotes in at least 50 option series chosen from the following option series:

Contract Month Option Series
Series For Selection

Call Series
Put Series
Spot month Nearest Out-of-the-Money 7 7
Nearest In-the-Money 2 2
Second Calendar month Nearest Out-of-the-Money 7 7
Nearest In-the-Money 2 2
Third Calendar month Nearest Out-the-Money 7 7
Nearest In-of-the-Money 2 2
Fourth Calendar month Nearest Out-the-Money 7 7
Nearest In-of-the-Money 2 2
First Quarter month Nearest Out-the-Money 7 7
Nearest In-of-the-Money 2 2
Second Quarter month Nearest Out-the-Money 7 7
Nearest In-of-the-Money 2 2
Third Quarter month Nearest Out-the-Money 7 7
Nearest In-of-the-Money 2 2
Total 126

 

Market Maker Incentives for Stock Options 

Stock
Options
Tier
Trading Requirement Market
Maker
Fee (HK$)
Standard
Exchange
Fee (HK$)
Tier 1

Response to Total
Quote Requests in a Month
70% or more 1.50 3.00
less than 70% 3.00 3.00
Provision of Continuous Quotes
in the Trading Hours in a Month
70% or more 1.50 3.00
less than 70% 3.00 3.00
Tier 2



Response to Total
Quote Requests in a Month
70% or more 0.80 1.00
less than 70% 1.00 1.00
Provision of Continuous Quotes
in the Trading Hours in a Month
70% or more 0.80 1.00
less than 70% 1.00 1.00
Tier 3^



Response to Total
Quote Requests in a Month
70% or more 0.40 0.50
less than 70% 0.50 0.50
Provision of Continuous Quotes
in the Trading Hours in a Month
70% or more 0.40 0.50
less than 70% 0.50 0.50