Download ppt - Market Specific - Hong Kong. 2 Market Specific – Hong Kong Agenda Equity Hong Kong Stock Exchange (HKEx) Futures & Options Hong Kong Futures Exchange

Market Specific - Hong Kong

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Market Specific – Hong Kong

Agenda

• Equity

Hong Kong Stock Exchange (HKEx)

• Futures & Options

Hong Kong Futures Exchange (HKFE)

Hong Kong Mercantile Exchange (HKMEx)

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Hong Kong Exchange (HKEx)

• Securities Trading (HKSE)

• Derivatives Trading (HKFE)

• Exchange website

http://www.hkex.com.hk/eng/index.htm



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• HKSE: <HK/EQUITY>, <HK/MENU>

main traded instruments:– Equities e.g. <0001.HK>

– Warrants e.g. <11832.HK>

– Rights e.g. <8388.HK>

– Bonds e.g. <4014.HK>

– Exchange Traded Funds e.g. <3088.HK>

– CBBC (Callable Bull/Bear Certificates) e.g. <67859.HK>

http://www.hkex.com.hk/eng/prod/secprod/cbbc/Intro.htm

– <HK/CHANGE1>

http://www.hkex.com.hk/eng/prod/secprod/cbbc/Intro.htm

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Market Specific – Hong Kong• H shares – issued by companies incorporated in Mainland China and listed

on the HKSE.

• Blue chips – normally companies with the highest status and

quality for investment. In Hong Kong, the constituents of the Hang

Seng Index are generally recognized as blue chips.

• Red chips – companies listed on the Stock Exchange and

controlled by Mainland entities, by way of direct or indirect shareholding and/or representation on the board of directors.

Red-chip companies are incorporated outside Mainland China.

• <0#HKSEH-CHINAA> detailing companies which have both H-Shares and A-Shares listed. For example, Industrial and Commercial Bank of China (ICBC) lists on both the Chinese Stock Exchanges (Shanghai Stock Exchange or Shenzhen Stock Exchange) and the Hong Kong Stock Exchange

• Exchange website:

http://www.hkex.com.hk/eng/prod/secprod/eqty/Documents/equities.pdf

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• Reference Data

HKSE Full Quote RIC Rule – RIC is created based on exchange stock code.

– If the ticker is 4 or 5 digits, the RIC will be ticker +.HK

– If the ticker is less than 4 digits, we will add leading zeros to form 4 digits.

E.g <0001.HK>, <27074.HK>

– http://www.hkex.com.hk/eng/market/sec_tradinfo/stockcode/documents/scap.pdf (Stock Code Allocation Plan)


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• How to verify stock code/ticker from exchange website?– the exchange stock code (ticker) is supported on FID 78

E,g. <0001.HK> - official stock code is 1

– Exchange website for stock code (ticker) verification:



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Market Specific – Hong Kong• How do we get ISIN code for HKSE RICs?

– FID 3655 or MI page such as <0001MI.HK> – ISIN code – Please note that our main source of ISIN code is from Stock

Exchange of Hong Kong (SEHK). The exchange collects the information on best effort basis and then disseminates to Thomson Reuters via Hong Kong Miscellaneous Information RIC, such as <0001MI.HK>.

– The update time is approximately at 08:15 HKT (00:15 GMT)

– For HK-listed securities of which the issuing companies are registered outside Hong Kong, the ISIN codes are or will be assigned and updated by the National Numbering Agencies or their substitute agencies of the corresponding countries.

– Since the SEHK is not the issuer of the ISIN codes for these companies, there could be delay in getting the ISIN code from the respective numbering agencies by the exchange.

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Market Specific – Hong Kong• Miscellaneous Information Page RIC

Information• Feed in from Exchange Feed• ISIN code• Eligible for Short Selling • Stamp duty

• Short Selling RIC

• Individual Stock Short Selling RIC Stock code + “stat.HK” e.g. <0005stat.HK>

– Daily Turnover and Volume of Short Selling – Average Short Selling price – (CAZ ID 1070575 & 88312)

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• When does the ETI team create a HKSE RIC for a new stock?– Based on the exchange notification (official source)

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• HKSE Trading Calendar and Trading Hours- Holidays Speedguide: <HK/HOLIDAY>

- Exchange website: http://www.hkex.com.hk/eng/market/sec_tradinfo/tradcal/nont10.htm

- Trading Hours: <HK/EXCH2>

- Exchange website:

http://www.hkex.com.hk/eng/market/sec_tradinfo/tradcal/tradcal_1.htm

• HKSE Closing Run <CLOSE/RUN10>

http://www.hkex.com.hk/eng/market/sec_tradinfo/tradcal/nont10.htm



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• Market Depth– levels of market depth data

– Please note there is no “D RIC” for Hong Kong stocks

– The original RIC displays 5 levels market depth data

– e.g. <0#0001.HK>

what kind of data does <0#0001.HK> display? (<0001bk.HK> > <HKBK01>)

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• Price Verification

To access price information, navigate from homepage at http://www.hkex.com.hk/eng/index.htm, by input the stock code (ticker) into “Stock Quote Search”.

e.g. Stocks delayed prices: http://www.hkex.com.hk/eng/invest/company/quote_page_e.asp?WidCoID=1&WidCoAbbName=&Month=1&langcode=e

e.g. Stocks historical prices:

http://www.hkex.com.hk/eng/invest/company/chart_page_e.asp?WidCoID=1&WidCoAbbName=&Month=3&langcode=e#

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Market Specific – Hong Kong• HKSE Trading Features

Trading types (FID 975)• Automatch Direct (Y)• Automatch Non-direct ( )• Manual or Special Lot Direct (X)• Manual or Special Lot Non-direct (M)• Odd Lot (D)• Pre-opening (P)• Auction-Matched (U)• <HK/TAS1>, <HK/TAS3>-4

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• HKSE Trading Features• How is the closing price calculated by the exchange?

• Please refer to FID 6 at 16:01 HKT for close price.

• <FAQ/HK03>

• Unlike other Asian exchanges, FID 393 (rather than FID 6) is the last traded price for Hong Kong Equity.

• FID 6 is nominal <FAQ/HK01>

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• Close price adjustment– Adjust Historical closing price (FID 21)

• Cash dividend – adjusted by the exchange data feed around 08:00 HKT

• On ex-date, the Hong Kong Stock Exchange (HKSE) adjusts the previous day close nominally based on the cash dividends amount.

• Please note that for HK cash dividends, only FID21 is adjusted on Ex-date, and it is from Hong Kong Stock Exchange directly; while, for close price on graph and TS1, the close prices are taken from the Thomson Reuters historical database, and are not adjusted

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• Parallel Trading Parallel trading is peculiar to Hong Kong Stock Exchange

(HKSE) and refers to the method opted during stock consolidation and share sub-division. On HKSE, in the event of a share consolidation, stock split or lot size change, temporary stock codes will be listed.

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Market Specific – Hong Kong• There are always 3 stages,

• 1st stage : On May 13th

The original RIC <0307.HK> inactive (RIC deleted)

Temporary RIC <2913.HK> is trading (RIC added).

• 2nd stage ( parallel trading) : On May 27th,

The original RIC <0307.HK> is re- activated (RIC added),

Temporary RIC <2913.HK> continues trading.

The shareholders can trade on the original RIC <0307.HK> OR the temporary RIC <2913.HK>

• 3rd stage : On June 20th,

The original RIC <0307.HK> resumes trading (RIC added),

Temporary RIC <2913.HK> is deleted.

All trading then reverts back to the original RIC.

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• HKSE FID list

Customer Zone FAQ 1028726 – https://customers.reuters.com/a/KnowledgeCentre/Resolu

tion.aspx?id=1028726

– <FAQ/HK10>

– Refer to <FIELDLIST01>

https://customers.reuters.com/a/KnowledgeCentre/Resolution.aspx?id=1028726


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• Indices <HK/INDICES1>, FID list CAZ ID:1028726– Most important index: <.HSI>, its constituents: <0#.HSI>

– Hang Seng index delayed price verification:

http://www.hsi.com.hk/HSI-Net/

– Hang Seng index historical price verification:

http://www.hsi.com.hk/HSI-Net/HSI-Net

Home > Download Centre > Reports and Statistics

Step 1: Select the index

Step 2: Select “Index daily bulletin”

Step 3: Click on the date to download

http://www.hsi.com.hk/HSI-Net/

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Market Specific – Hong KongFutures & Options

• Hong Kong Futures Exchange (HKFE)

Speed guide

RIC structure

Settlement/closing run

Price verification

• Hong Kong Mercantile Exchange (HKMEx)

Speed guide

Trading hours

Contract specification

Price verification

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Hong Kong Futures Exchange

– Speedguide <HK/FUTEX1> > <HFE/FUTEX1>: Refer to the contract details pages for the trading hours of

various contracts e.g. <HFE/HSI> http://www.hkex.com.hk/eng/prod/drprod/DMProducts.htm

– Holidays: <HK/HOLIDAY>– Trading hours - <HK/EXCH3>

– FAQ pages <HFE/FAQ01> onwards– FID list: Customer Zone FAQ ID 1067508


http://www.hkex.com.hk/eng/prod/drprod/DMProducts.htm



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• RIC structure: <RULES2>

• Futures RIC Structure– RIC root + Month code + Year Code

e.g. <HSIM1> <HSIc1>

• Option RIC Structure– RIC Root + Strike Price + Month Code + Year Code

e.g. <HSI18600E1.HF>

• Stock options

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Market Specific – Hong Kong• Exchange ID for stock options - .HK

• Menu page <HK/FUTEX1> ><HKG/OPTEX1>– RIC structure - ‘Stock Code’ + ‘Strike Price’ + ‘Version

Code’ + ‘Month Code” + ‘Year Code’ + ‘.HK’

e.g. <000550000F1.HK> for HSBC June 2011 Call Option at 50.00

‘0#’ + ‘Stock Code’ + ‘*.HK’<0#0005*.HK> for HSBC Options.

– Version code – for underlying stocks going through capital change. The temporary counter will have version code “1”.

– Usually there will be Data Notification issued to inform the customer about the change.

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• Settlement price updates at FID 70

Index/Stock/Money market/Bond Futures and Index Options (18:00 – 18:45 HKT).

According to HKFE, the transmission time of settlement price could be later than normal schedule due to settlement price calculation process time.

• Closing run time:

Futures: 07:05 local time(23:05 GMT).

Value on FID 70 ripples to FID 21 as historical close.

Options: 06:22 local time (22:22 GMT).

• <CLOSE/RUN10>

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• Price verification

- Delayed price

http://www.hkex.com.hk/eng/ddp/ddp_index.asp Home > Investment Service Centre > Futures and Options Prices and Charts

(Delayed)

- Historical price (e.g. daily settlement)

http://www.hkex.com.hk/eng/stat/dmstat/dayrpt/dmrcalendar.asp

Home > Statistics & Research > Derivatives Market Statistics > Daily Market Report



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Market Specific – Hong Kong Hong Kong Mercantile Exchange (HKMEx)

• Background: refer to DN056370 for more details.

• Speed guide - <HK/FUTEX1> > <HME/FUTEX1>

• Exchange link:

http://www.hkmerc.com/en/index.html

• Market Holiday: <HK/HOLIDAY>

• FID list: attachment to DN056370

https://customers.reuters.com/a/KnowledgeCentre/Search.aspx

http://www.hkmerc.com/en/index.html




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• Trading Hours :<HK/EXCH6>

The trading schedule is as below:Pre-Open Session 07:30 - 08:00HKT (23:30 - 00:00GMT) Auction Session 8:00HKT (00:00GMT)Trading Open 08:00 - 23:00HKT (00:00 - 15:00GMT)Trading Close 23:00HKT (15:00GMT)Post Closing Session 23:00 - 00:00 HKT (15:00 - 16:00GMT)

• Or Exchange Home > Trading > Trading Schedule: http://www.hkmerc.com/en/trading/trading_schedule/index.html

• Settlement price in FID 70 updates at 23:30 HKT, (15:30 GMT)

http://www.hkmerc.com/en/trading/trading_schedule/index.html

http://www.hkmerc.com/en/trading/trading_schedule/index.html

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Market Specific – Hong Kong• Menu page <HME/FUTEX1>

• Contract Specification: <HME/HKG>

• Home > Products > 32 Troy Ounces Gold Futures:

http://www.hkmerc.com/en/products/products_information/index.html#A2

• Price verification (Delayed & Historical) :

• Home > Market News/Data > Today's Quotes > 32 Troy Ounces Gold Futures:

http://www.hkmerc.com/en/market_news_data/today_quotes_news/HKG/index.html





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•Q and A

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• Quiz1. Please verify close price for <0941.HK> on May 24th.

2. Please advise strike price and option type (call/put) for <HCEI12200F1.HF>.

3. How to find all the options for Flexible Hang Seng Index futures contracts?

4. What are the trading hours of Mini Hang Seng Index futures contracts?

5. Please verify settlement price for <HSIM1> on May 23rd


The End