Hong Kong exchange proposes trading controls to modernise market
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[HONG KONG] The Hong Kong exchange has proposed installing new trading controls that would help to modernise its outdated market structure and bolster Hong Kong's competiveness as a global financial market.
The Hong Kong Exchanges and Clearing on Friday published a consultation on reintroducing a closing auction and installing new volatility controls.
The consultation will last 12 weeks and will close on April 10, the HKEx said in a statement.
"As an international exchange, we have to stay alert for changes that may require new mechanisms to protect market integrity," Roger Lee, HKEx's head of market operations, said in a statement.
"Our proposed ... enhancements are designed to offer greater safeguards to our market and improve market efficiency."
REUTERS
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