Hong Kong exchange to publish paper on longer stock trading hours in Q4, SFC says
In short
Julia Leung (梁凤仪), chief executive of Hong Kong's Securities and Futures Commission, said Hong Kong Exchanges will publish a discussion paper on extending trading hours in the fourth quarter. Jiemian reported that the paper concerns the cash market's trading session, while extended hours will be introduced first in the derivatives market. CLS reported that the exchange will also publish consultation conclusions on T+1 settlement as soon as possible and set a target implementation date.
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Hong Kong Exchanges will publish a discussion paper on extending trading hours in the fourth quarter, Julia Leung (梁凤仪), chief executive of the Securities and Futures Commission, said in a speech at a meeting of the Asia Securities Industry & Financial Markets Association (ASIFMA), CLS reported on October 9. Jiemian reported that the paper will cover extending trading hours in the cash market, and that Leung gave the speech at an ASIFMA forum on the outlook for Asia-Pacific capital markets liquidity. [ 1 , 2 , 3 ]
According to Jiemian, Leung said that other measures under study include extending securities trading hours, which will be introduced first in the derivatives market. She said this would help investors respond in time to fast-moving global markets across different time zones and ensure Hong Kong keeps its competitive edge. [ 3 ]
Leung said that over time, settlement arrangements using tokenised money and the digital Hong Kong dollar could support longer trading. Jiemian quoted her as saying these measures together would let investors adjust positions and manage risk more flexibly in response to the latest market information. [ 1 , 2 , 3 ]
CLS also reported that Hong Kong Exchanges will publish its consultation conclusions on T+1 settlement as soon as possible and set a target implementation date. 36Kr carried the same report, crediting CLS. [ 1 , 2 ]
Why it matters
Leung said longer trading hours would help investors respond to global markets across different time zones and help Hong Kong keep its competitive edge, Jiemian reported. Settlement arrangements using tokenised money and the digital Hong Kong dollar could, over time, support longer trading, according to the reports.
Key facts
- Hong Kong Exchanges will publish a discussion paper on extending trading hours in the fourth quarter, SFC chief executive Julia Leung said. [ 1 , 2 , 3 ]
- Jiemian reported the discussion paper concerns extending trading hours in the cash (spot) market. [ 3 ]
- Extended trading hours will be introduced first in the derivatives market, according to Jiemian. [ 3 ]
- Over time, settlement using tokenised money and the digital Hong Kong dollar could support longer trading, Leung said. [ 1 , 2 , 3 ]
- Hong Kong Exchanges will publish consultation conclusions on T+1 settlement as soon as possible and set a target implementation date, CLS reported. [ 1 , 2 ]
- Leung spoke at a meeting of the Asia Securities Industry & Financial Markets Association (ASIFMA). [ 1 , 2 , 3 ]
Confirmed by several sources
- Hong Kong Exchanges will publish a discussion paper on extending trading hours in the fourth quarter. [ 1 , 2 , 3 ]
- Leung linked longer trading hours over time to settlement using tokenised money and the digital Hong Kong dollar. [ 1 , 2 , 3 ]
- Leung made the remarks at an ASIFMA event. [ 1 , 2 , 3 ]
Still unclear
- When T+1 settlement would take effect. CLS reported only that a target implementation date will be set; no date was given, and 36Kr's report credits CLS.
- When extended trading hours would start in the derivatives market or the cash market. Jiemian reported the derivatives market would go first but gave no timetable.