Hong Kong stock trading rules:

1. Trading system AMS/3

With the expansion of the scale of the securities market and the needs of the future international development of the exchange, Hong Kong The exchange launched the third generation automatic order matching and transaction system (AMS/3) in October 2000. AMS/3 connects investors, exchange participants, other participants and central markets to make the trading process more efficient.

2. Exchange Trading Rules

Securities transactions on the exchange must comply with the relevant provisions of the "Exchange Rules". The more important rules are as follows:

1. Price

Each security traded on the exchange is traded at a designated "price", which represents the minimum amount by which the price can increase or decrease. , and is related to the price range in which the security is located.

The exchange's price list stipulates stock prices ranging from HK$0.01-0.25 per share (price range is HK$0.001) to HK$1,000-9995 per share (price range is HK$2.50). When the price of a stock rises or falls to another price range, its price will also change accordingly.

2. Opening quotation

The "Exchange Rules" stipulate that the "opening quotation" should be carried out according to procedures to ensure the continuity of prices between two adjacent trading days, and Prevent violent market fluctuations when the market opens: The first buy or sell order entered into the trading system on each trading day is regulated by the opening quotation rules. The price of the first trading order cannot exceed 4 price points above or below the closing price of the previous day.

3. Clearing and Settlement

The clearing and settlement procedures for various products on the Hong Kong Stock Exchange are governed by the Hong Kong Clearing House, the Options Clearing Corporation and the Futures Clearing Corporation. Handled at clearing house. Among them, Hong Kong Clearing House is responsible for the clearing and settlement of eligible securities traded on the Main Board and Growth Enterprise Market of the Stock Exchange.

1. Continuous Net Settlement System:

Hong Kong Clearing implements a continuous net settlement system. Under the continuous net settlement system, each CCASS participant's purchase or sale of a certain security from other CCASS participants will be offset on a rolling basis, and the remaining net purchases or sales will shares as settlement standard.

2.T+2 settlement system:

Transactions matched or reported by exchange participants through the automatic order matching system must be completed on the third day after each trading day (T day). Settlement with the Central Clearing and Clearing System is completed before 3:45 pm on the second trading day, which is generally called the "T+2" day settlement system.