Trading Particulars

Trading Time:

The Exchange is closed on Saturdays, Sundays and the observed holidays.

Continuous Trading Session Morning Session: 9:30 a.m. to 12:00 noon
Afternoon Session: 1:00 p.m. to 4:00 p.m.
There is no Afternoon Session on the eves of Christmas, New Year and Lunar New Year. Please check with HK Exchange for any latest updates.

 

Pre-opening Session :

Time At-auction Order(AUC) At-auction Limit Order(ALO)
9:00 a.m. - 9:15 a.m.
Order input period
Order input Order input
Reduce Reduce
Cancel Cancel
9:15 a.m. - 9:20 a.m.
Pre-matching period
Order input only N/A
9:20 a.m. - 9:28 a.m.
Order matching period
Unmatched orders will be cancelled. Unmatched orders will be converted to Limit Orders and carried forward to morning trading session.

 

Order Types:

Pre-opening Session
At-auction Order (AUC) No specified price
High order matching priority than an ALO and will be matched in time priority at the final IEP.
Any outstanding AUC after the end of the Pre-opening Session will be cancelled before the commencement of the Continuous Trading Session.
At-auction Limit Order (ALO) With a specified price
Any outstanding ALO will be carried forward to the Continuous Trading Session and treated as limit order provided that the specified price of that ALO does not deviate 9 times or more from the nominal price. Such orders will be put in the price queue of the input price.

 

Continuous Trading Session
Limit Order Allow matching only at specified price.
The sell order price input cannot below the best bid price if any whereas the buy order price input cannot above the best ask price if any. Any outstanding limit order will be put in the price queue of the input price.
Enhanced Limit Order Allow matching of up to 10 price queues at a time (The sell order input price can be set at a price of up to 9 spreads below the current bid price, whereas the buy order input price can set a price of up to 9 spreads above the current ask price).
Any outstanding enhanced limit order will be treated as a limit order and put in the price queue of the input price.
Special Limit Order Allow matching of up to 10 price queues at a time (The sell order input price can be set at a price of up to 9 spreads below the current bid price, whereas the buy order input price can set a price of up to 9 spreads above the current ask price).
No restriction on the input price as long as the order input price is at or below the best bid price for a sell order or at or above the best ask price for a buy order.
Any outstanding special limit order will be cancelled and will not be stored in the AMS/3.

 

Settlement Day: T+2 

 

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