Northbound Investor ID Model

The Northbound Investor ID Model was launched on 17 September 2018 to ensure the stable operation of Stock Connect. It facilitates Mainland exchanges and regulators conduct market supervision and surveillance efficiently in accordance with the home market principle.

Exchange Participants offering Northbound trading services must assign a unique Broker-to-Client Assigned Number (BCAN) to each Northbound trading client. They must also provide Client Identification Data (CID) to the Stock Exchange of Hong Kong Limited, which forwards it to Mainland exchanges.

The Northbound Investor ID Model is solely for market monitoring and surveillance. It does not impact the existing Special Segregated Account (SPSA) model introduced in March 2015 which is used to facilitate pre-trade checking.

Information Paper and FAQ

• Information paper
• FAQ (Updated as of 15 October 2018)
• Briefing to Participants on Northbound Investor ID Model

Circular

• Link to SEHK Circulars

Press Release

• HKEX Reschedules Rollout of Northbound Investor ID Model for Stock Connect
• HKEX Announces Details of Launch of NB Investor ID Model on 17 September
• HKEX Publishes Paper on Investor ID Model for Stock Connect Northbound Trading

Rule Amendments 

• SEHK Rules Amendments

Technical Documents

• Specifications
  • China Stock Connect Northbound Trading Investor ID Model System File Interface Specification (Version 1.7) (Marked-up Version)         
    •  BCAN-CID Mapping File Data Record Examples (Version 1.0)
    •  Guidance Notes on BCAN-CID Mapping File (Version 1.0)
    •  BCAN-CID Mapping File (Sample File)
    •  Authorised TTEP Firm List Example (Version 1.0)
    •  Authorised TTEP Firm List (Sample File)
  • Interface Specifications CCCG Binary Trading Protocol (Version 1.4) (Marked-up Version)
  • Interface Specifications CCCG Binary Drop Copy Protocol (Version 1.1) (Marked-up Version)
  • Interface Specifications CCCG FIX Trading Protocol (Version 1.4) (Marked-up Version)
  • Interface Specifications CCCG FIX Drop Copy Protocol (Version 1.1) (Marked-up Version)
  • Northbound Investor ID Model File Transfer Connectivity Guide

• Information Packages
  • Information Package for Third Market Rehearsal (Version 1.0)
  • Information Package for Second Market Rehearsal (Version 1.0)
  • Information Package on Connectivity Session and Market Rehearsal (Version 1.1) (Marked-up Version)

Other Reference Materials

• Client Consent Template (for reference only)