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Stock Futures

Stock Futures

A stock futures contract is a commitment to buy or sell the financial exposure equivalent to a specific amount (contract multiplier) of shares of the underlying stock at a predetermined price (contracted price) on a specified future date. 

As stock futures contracts are cash settled, there is no physical delivery of shares when the contract expires. 

Upon expiry, profits and losses are credited or debited to the account of the contract buyers/sellers in an amount equal to the difference between the contracted price and the final settlement price multiplied by the contract multiplier. 

The final settlement price is the official closing price of the underlying stock as quoted by SEHK on the Last Trading Day. 

To offset an open short stock futures position before expiry, a seller of a stock futures contract simply buys back the contract while a buyer sells a stock futures contract to close the open long position. 

All buyers and sellers of stock futures are required to post margin when opening a position in the market to ensure performance of the contractual obligations. If the margin falls below the stipulated level due to adverse price movements, the investor will be called upon to promptly restore the margin back to the original level.

Advantages

  • Low transaction costs
    As stock futures contracts are based on the value of several thousand shares, the stock transaction costs are low relative to purchasing or selling the total underlying shares. 

  • Ease of short selling
    A short position in a stock futures contract can be easily established, allowing investors to benefit from an anticipated fall in the value of the underlying stock. 

  • Leverage effect
    As the margin required to carry a stock futures position is only a fraction of the value of the underlying stock, hedging/trading activities can be conducted with a smaller capital outlay. 

  • Lower currency exposure for offshore investors
    For global investors with an exposure in Hong Kong through stock futures contract, only the margin to carry the position is subjected to home currency price fluctuations.   
  •  Electronic trading
    As stock futures are traded on the HKFE's Automated Trading System (ATS), where orders are electronically matched based on price and time priority and bid, offer and transaction prices are instantly disseminated, providing the highest level of price and market transparency.
  • Clearing House guarantee
    As with all futures and options contracts traded on the HKFE, stock futures are registered, cleared and guaranteed by the HKFE Clearing Corporation (HKCC), a wholly-owned subsidiary of the HKFE. HKCC acts as the counter-party to all open contracts which effectively eliminates counter-party risks between its HKCC Participants. The HKCC guarantee does not cover an HKCC Participant's obligations to its clients. Investors should exercise due care and diligence when deciding through whom they will conduct business.

Market making system

Participants may sign up as market makers in some stock futures contracts, in which they would be responsible for providing firm bid/offer prices within a maximum spread limit. Some stock futures contracts may not have market makers to provide bid/offer quotes and their trading would be on an order-driven basis. Investors should be aware of the liquidity risk in these stock futures contracts and should exercise due caution before trading.

Risks of Trading Stock Futures

Stock futures involve a high degree of leverage. Losses from stock futures trading can exceed the investor’s initial margin funds and may require payment of additional margin funds on short notice. Failure to make payment may result in the investor’s position being liquidated and liable for any deficit resulting from or in connection with the liquidated position.

Investors must therefore understand and be aware of the risks of trading in stock futures and should assess whether they are suitable. Investors are encouraged to consult a broker or financial adviser in respect of suitability for stock futures trading in light of the investor’s financial position and investment objectives before trading.

 


Updated 08 Aug 2020

Contract Summary

Item Contract Terms
Underlying Stocks &
HKATS Codes
Please refer to list of stock futures
Contract Multiplier Board lot size of the underlying shares *
Contracted Value Contracted price multiplied by Contract Multiplier
Minimum Fluctuation HK$0.01
Contract Months Spot Month, the next two calendar months, & next two calendar quarter months
Trading Hours 9:30 am - 12:00 noon & 1:00 pm - 4:00 pm
Last Trading Day The Business Day immediately preceding the last Business Day of the Contract Month
Final Settlement Day The first business day after the Last Trading Day
Final Settlement Price **

The official closing price of the underlying stock as quoted by SEHK on the Last Trading Day.

Settlement Method Cash settled contract of difference
Transaction Costs***

Exchange Fee     Tier 1: HK$3.0     Tier 2: HK$1.0    Tier 3: HK$0.5   
Commission Levy      HK$0.10
Commission Rate Negotiable 

*Relevant information regarding contract multiplier of individual stock futures can be found in the list of stock futures
**Starting form 3 July 2018, the Final Settlement Price (FSP) shall be revised to the official closing price of the underlying stock as quoted by SEHK on the Last Trading Day.
***Starting from 3 July 2018, a new 3-Tier trading fee structure will be introduced. Please refer to the circular MKD/EQD/16/18 for the tier level.

 

 

List of Stock Futures

The following list of stock futures contracts are available for trading on the HKATS. Exchange Participants and their clients should be aware that stock futures contracts may or may not have market makers to provide bid / offer quotes for trading. Investors should exercise due caution and understand the liquidity risk involved when trading stock futures without market makers.

a) Stock Futures with Contract Size More Than One Underlying Board Lot Shares

Effective Date: 12 August 2021   
No. SEHK
Code
Underlying Stocks HKATS
 Code
Contract
Multiplier
(shares)
Number of Board Lots Tier  No. Market Makers/
Liquidity Provider
Approved by FSC Taiwan
 1 16 Sun Hung Kai Properties Limited SHK 1,000 2 1 Y  
  2 175 Geely Automobile Holdings Ltd.  GAH 5,000 5 1 Y  
3 268 Kingdee International Software Group Co., Ltd. KDS 2,000 2 1  
4 285 BYD Electronic International Company Limited   BYE 1,000  2 1  
 5 688 China Overseas Land & Investment Ltd.   COL 2,000 4 1  
6 788 China Tower Corporation Limited  TWR 10,000 5 2 Y  
7 823 Link Real Estate Investment Trust   LNK 1,000 10 1 Y  
8 981 Semiconductor Manufacturing International Corp. SMC 2,500 5 1  
 9 998 China CITIC Bank Corporation Ltd. CTB     20,000                                   20 1 Y  
 10 1024 Kuaishou Technology   KST 500 5 1 Y  
11 1288 Agricultural Bank of China Ltd. ABC                       10,000                    10  1 Y  
12 1299 AIA Group Ltd. AIA 1,000 5  1 Y  
13 1336 New China Life Insurance Co. Ltd. NCL             1,000             10  1 Y  
14 1359 China Cinda Asset Management Co., Ltd. CDA 5,000 5 3 Y  
 15 1810 XiaoMi Corporation  MIU 1,000 5 2 Y  
16 1816 CGN Power Co., Ltd. CGN             10,000             10 2 Y  
17 1833 Ping An Healthcare and Technology Co., Ltd. PHT 500 5 1  
18 1876 Budweiser Brewing Company APAC Limited BUD 1,000 10 2 Y  
        19 1918 Sunac China Holdings Ltd. SUN 2,000 2 1 Y  
      20 1988 China Minsheng Banking Corp., Ltd. MSB 10,000 20 1 Y  
21 2007 Country Garden Holdings Co. Ltd. COG 5,000 5 1 Y  
22 2015 Li Auto Inc. LAU 200  2 2  
23 2018 AAC Technologies Holdings Inc. AAC 1,000 2 1 Y  
 24 2238 Guangzhou Automobile Group Co., Ltd. GAC  4,000            2 1 Y  
 25 2333 Great Wall Motor Co. Ltd. GWM 10,000 20 1 Y  
26 2382 Sunny Optical Technology (Group) Co. Ltd. SNO 1,000 10 1 Y  
 27  2601 China Pacific Insurance Group Co. Ltd.  CPI 1,000 5 2 Y  
 28 2800 Tracker Fund of Hong Kong TRF 50,000 100 1 N  
29 2822 CSOP FTSE China A50 ETF CSA 5,000 25 1 Y  
30 2823 iShares FTSE A50 China Index ETF  A50  5,000 50 1  
 31 2828 Hang Seng China Enterprises Index ETF   HCF 5,000 25 1 Y  
 32 3188 China AMC CSI300 Index ETF AMC 2,000 10 1 Y  
         33 3333 China Evergrande Group EVG                                      2,000          2  1 Y  
 34 3690  Meituan Dianping MET 500 5 1  
35 3888 Kingsoft Corporation Ltd.  KSO 1,000 5 1 Y  
  36 6030 CITIC Securities Co. Ltd. CTS 1,000 2 2 Y  
 37 6060 ZhongAn Online P & C Insurance Company Limited ZAO 1,000 10 1  
38 6618 JD Health International Inc.  JDH 500 10 1 Y  
39 6837 Haitong Securities Co. Ltd. HAI 10,000 25 1 Y  
 40 9618 JD.com, Inc. JDC 500 10 1 Y  
 41 9626 Bilibili Inc. BLI 60 3 1 Y  
42 9633 Nongfu Spring Company Limited NFU 1,000 5 1 Y  
43 9868 XPeng Inc.  PEN 200 2 1  Y  
 44 9888 Baidu, Inc.  BIU 150 3 1 Y  
 45 9961 Trip.com Group Ltd. TRP 150 3 1 Y  
46 9988 Alibaba Group Holding Ltd.  ALB 500 5 1 Y  
47 9999 NetEase, Inc. NTE 500 5 1 Y  
   

b) Stock Futures with Contract Size Equal to One Underlying Board Lot Shares

No. SEHK
Code
Underlying Stocks HKATS
 Code
Contract
Multiplier
(shares)
 Tier No.
Market Makers  Approved by FSC Taiwan
1 1 CK Hutchison Holdings Ltd. CKH 500 1 Y  
2 2 CLP Holdings Limited CLP 500 1 Y  
3 3 The Hong Kong and China Gas Company Limited HKG 1,000 2 Y  
4 4 The Wharf (Holdings) Limited WHL 1,000 2 Y  
5 5 HSBC Holdings Plc. HKB 400 2 Y  
6 6 Power Assets Holdings Limited HEH 500 2 Y  
7 11 Hang Seng Bank Limited HSB 100 2 Y  
8 12 Henderson Land Development Company Limited HLD 1,000 1 Y  
9 17 New World Development Company Limited NWD 1,000 1 Y  
10 19 Swire Pacific Limited 'A' SWA 500 2 Y  
11 23 The Bank of East Asia, Limited BEA 200 3 Y  
12 27 Galaxy Entertainment Group Ltd. GLX  1,000 1 Y  
13 66 MTR Corporation Limited MTR 500 2 Y  
14 241 Alibaba Health Information Technology Ltd.^ ALH  2,000  1  
15 267 CITIC Limited CIT 1,000 3 Y  
16 386 China Petroleum & Chemical Corporation CPC 2,000 3 Y  
17 388 Hong Kong Exchanges and Clearing Limited HEX 100 1 Y  
18 700 Tencent Holdings Limited  TCH 100  1 Y  
19 728 China Telecom Corporation Limited CTC 2,000 3 Y  
20 762 China Unicom (Hong Kong) Limited CHU 2,000 3 Y  
21 857 PetroChina Company Limited PEC 2,000 3 Y  
22 883 CNOOC Limited CNC 1,000 3 Y  
23 902 Huaneng Power International, Inc. HNP 2,000 3 Y  
 24 914 Anhui Conch Cement Co. Ltd. ACC  500  1 Y  
25 939 China Construction Bank Corporation CCB 1,000  3 Y  
26 941 China Mobile Limited CHT 500  1 Y  
27 1088 China Shenhua Energy Co. Ltd. CSE  500 3  Y  
28 1171 Yanzhou Coal Mining Co. Ltd. YZC  2,000  2  Y  
29 1211 BYD Company Limited  BYD  500   
30 1398 Industrial and Commercial Bank of China Limited   ICB 1,000  3 Y  
31 1800 China Communications Construction Company Limited CCC 1,000 3 Y  
 32 1898 China Coal Energy Co. Ltd. CCE 1,000 3 Y  
 33 1928 Sands China Ltd.  SAN 400  2 Y  
34 2269 WuXi Biologics (Cayman) Inc.  WXB 500   
35 2318 Ping An Insurance (Group) Company of China, Ltd. PAI 500 1 Y  
36 2328 PICC Property and Casualty Company Limited PIC 2,000 2 Y  
37 2388 BOC Hong Kong (Holdings) Limited BOC 500  2 Y  
38 2600 Aluminum Corporation of China Limited ALC 2,000 3 Y  
39 2628 China Life Insurance Company Limited CLI 1,000 2 Y  
40 2899 Zijin Mining Group Co., Ltd.  ZJM 2,000 3 Y  
41 3328 Bank of Communications Co., Ltd. BCM 1,000 3 Y  
42 3968 China Merchants Bank Co., Ltd.   CMB 500 2 Y  
43 3988 Bank of China Limited BCL 1,000 3 Y  
44 6862 Haidilao International Holding Ltd. HDO 1,000 1  
*Unless otherwise specified, tier levels of adjusted contracts shall be same as  their standard contracts.

 

 



Margin Table

Trading Fees and Commission

Exchange Fee
Tier 1 : HK$ 3.0 Tier 2: HK$1.0 Tier 3 HK$0.5
Commission Levy
HK$0.10 per contract per side
Investor Compensation Levy*
HK$0.00 per contract per side
Total
Tier 1 : HK$3.10 per contract per side Tier 2: HK$1.10 per contract per side Tier 3: HK$0.60 per contract per side
Commission
Negotiable
* The amount indicated above is subject to change from time to time.

Online Derivatives Trading

Below is the list of the Exchange Participants who provide online derivatives trading services for investors.

(Product: Index Futures and Options / Stock Futures/Currency Futures / Commodity Futures / Interest Rate Futures)

Exchange Participant Contact Number Email
BOCI Securities Ltd. (852) 2121-0088 service@bocigroup.com
BOCOM International Securities Ltd. (852) 2297-9888 enquiry@bocomgroup.com
Bright Smart Futures & Commodities Co. Ltd. (852) 2537-1371 broker@bsgroup.com.hk
Celestial Commodities Ltd. (852) 2663-8888 hotline@cashon-line.com
CES Capital International (Hong Kong) Co. Ltd. (852) 3971 1052 cescapital@kiiik.com
Changjiang Futures (HK) Ltd. (852) 2823-0389 futuresCS@cjsc.com.hk
China Maike Futures International Limited (852) 2885 2968 cs@maike.com.hk
Chief Commodities Ltd. (852) 2500-9128 futures_dept@chiefgroup.com.hk
Chong Hing Commodities & Futures Ltd. (852) 3768-9988 info@chcf.com.hk
Chow Sang Sang Futures Ltd. (852) 2581-7338 cs.trade@338.net
Christfund Futures Ltd. (852) 2147-9898 maggie.lam@christfund.com
una.zhao@christfund.com
Cinda International Futures Ltd. (852) 2235-7789 cs@cinda.com.hk
CMB International Futures Limited (852) 3761 8788  futures@cmbi.com.hk
CN First international Futures Limited (852) 3897-2000  cnfservice@cnfirst.com.hk
CITIC Securities Futures (HK) Ltd. (852) 2237-6899 info@citics.com.hk
Core Pacific - Yamaichi Futures (H.K.) Ltd. (852) 2166-3888 info@cpy.com.hk
CSC Futures (HK) Ltd. (852) 2105-1299 futures@e-capital.com.hk
DA International Financial Service Limited (852) 39199123 Sunny@directaccess.com.hk
East Asia Futures Ltd. (852) 3608-8181 info@eafutures.com.hk
Emperor Futures Ltd. (852) 2919-2919 efl.cs@emperor.com.hk
Enlighten Futures Ltd. (852) 2152-3321 services@enlighten.com.hk
Excalibur Global Finanical Group Ltd. (852) 2844-9868 jannylee@excalibur.com.hk
Finet Securities Ltd. (852) 2169-0088 cs@finet365.com
First Shanghai Futures Ltd. (852) 2532-1580 cs@mystockhk.com
Freeman Commodities Limited  (852) 3513 8000  cs@freemansec.com
Fuji Hong Kong Commodities Co. Ltd. (852) 2559-1041 sales@fujihk.com
admin@fujihk.com
Fulbright Futures Ltd. (852) 2121-8333 cs@fulbright.com.hk
SSIF Futures Ltd. (852) 3192-1001 cs@ssif.com.hk
GF Futures (HK) Co. Ltd. (852) 3719-1199 futurescs@gfgroup.com.hk
Glory Sky Global Markets Ltd. (852) 3420-1000 enquiry@glorysky.ws
Goldenway Investments (HK) Ltd. (852) 3719-9733 cs@gwtrade.hk
Goldin Equities Ltd. (852) 3960-7827 enquiry@goldinequities.hk
Grand Investment (Futures) Ltd. (852) 3550-6988 cs@grandfg.com
GuocoCommodities Ltd. (852) 2218-2818 info@guococap.com
Guotai Junan Futures (Hong Kong) Ltd. (852) 2509-9277 futures@gfjas.com.hk
Guoyuan Futures (Hong Kong) Ltd. (852) 3769-6888 gyzq@gyzq.com.hk
Haitong International Futures Ltd. (852) 3583-3388 csdept@htisec.com
Hantec Futures Ltd. (852) 2523-7571 thomasmo@hantec.hk
Hong Kong International Futures Ltd. (852) 2853-8027 enquiry@hnahki.com
I-Access Investors Ltd. (852) 3741-0373 info@i-access.com
ICBC International Futures Ltd. (852) 2683-6216 freeman.to@icbci.com.hk
iSTAR International Futures Co. Limited (852) 3900-1701 cs@istartrade.com
Kaiser Futures Ltd. (852) 2815-8033 cs@kaisergroup.com.hk
Karl-Thomson Commodities Co. Ltd. (852) 2810-9062 admin@ktg.com.hk
KGI Futures (Hong Kong) Ltd. (852) 2878-5555 info@kgia.com
Kim Eng Futures (Hong Kong) Ltd. (852) 2268-0660 cs@kimeng.com.hk
Kingsway Financial Services Group Ltd. (852) 2283-7373 customerservice@sunwahkingsway.com
Longrun Financial Group Limited (852)2885 2968  dealing@longrun.com.hk
Luk Fook Futures (HK) Limited  (852) 2980-0888 cs@lff.com.hk 
Marigold International Securities Ltd. (852) 3750-8898 cs@misl.com.hk
Mayfair Pacific Financial Group Ltd. (852) 3192-1108 simpson.yam@mayfairpacific.com
Metro Capital Futures Limited (852) 3944-8008 metrocap@metrocap.com.hk
Oriental Wealth Futures Ltd. (852) 2879-9868 admin@o-wealth.com
Peace Town Financial Services Ltd. (852) 2822-8338 info@pt123.com
Phillip Commodities (HK) Ltd. (852) 2277-6611 futures@phillip.com.hk
Po Sang Securities and Futures Ltd. (852) 2815-4655 psf@bochk.com
Prudential Index Trading Co. Ltd. (852) 2143-3999 samng@pru.com.hk
Quam Securities Co. Ltd. (852) 2847-2203 qscs@quamgroup.com
RealinkFinancial TradeLtd. (852) 2823-2828 cs@realink.com.hk
 RHB Futures Hong Kong Limited  (852) 2103 5657  rhb.hk.customer.service@rhbgroup.com
Sanfull Futures Ltd. (852) 2853-2128 futures@sanfull.com.hk
Shacom Futures Ltd. (852) 2207-2837 contact@shacomfutures.com.hk
Shenyin Wanguo Futures (H.K.) Ltd. (852) 2250-8298 customer.service@sywg.com.hk
SinoPac Securities (Asia) Limited (852) 2523-6685 cs.asia@sinopac.com 
Skyway Futures Ltd. (852) 2907-2300 cs@sws.hk
South China Commodities Ltd. (852) 2111-2222 hotline@sctrade.com
Stockwell Commodities Ltd. (852) 2509-4384 bennylo@stockwellonline.com
Success Futures and Foreign Exchange Ltd. (852) 2598-1027 enquiry@successfn.com
Sun Hung Kai Commodities Ltd. (852) 2822-5001 cs@shkf.com
futures.trader@shkf.com
Premier Q Futures Limited (852) 2111 2666 settlement@premierqhk.com
Taiwan Concord Capital Securities (HK) Ltd. (852) 3405-7305 fdealer@concordcapital.com.hk
Telecom Digital Securities Ltd. (852) 8118-1133 ftcontact@tdsecurities.com.hk
T G Securities Ltd. (852) 2905-9529 info@tgshk.com
Tianda Securities Ltd. (852) 3972-0688 enquiry@tiandafinancial.com
Interactive Brokers Hong Kong Ltd. (852) 2156-7907 sales@interactivebrokers.com.hk
United Simsen Securities Ltd. (852) 2740-9688
(852) 2179-3992
cs@simsen.com
Upbest Commodities Co. Ltd. (852) 2545 3298 upc@upbest.com
VC Futures Ltd. (852) 2913-6332 enquiry@vcgroup.com.hk
Wing Fung Futures Ltd. (852) 2303-8690 cs@wfgold.com
Yuanta Futures (HK) Co. Ltd (852) 2293-9688 trading.brk@yuanta.com
Yuanta Securities (Hong Kong) Co. Ltd. (852) 3555-7878 hk.services.brk@yuanta.com
 

Disclaimer :
Hong Kong Exchanges and Clearing Ltd endeavors to ensure the accuracy and reliability of the information provided, but does not guarantee its accuracy and reliability and accepts no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccurancies or omissions.

List of Market Makers/Liquidity Providers

Stock Futures

Please refer the hyperlink for the short code of Market Maker/Liquidity Providers

https://www.hkex.com.hk/Products/Listed-Derivatives/Market-Maker-Program/List-of-Market-Makers_Liquidity-Providers?sc_lang=en

 

Providing Continuous Quotes
Market Maker/Liquidity Provider
HKATS CodeUnderlying StocksAPC FLW IBG IMC MPF MVN NHT OPT SQH TFF YKR
1 A50 iShares FTSE A50 China Index ETF * L * * *
2 AAC AAC Technologies Holdings Inc. * L *
3 ABC Agricultural Bank of China Ltd. * * *
4 ACC Anhui Conch Cement Co. Ltd. * L *
5 AIA AIA Group Ltd. * L * L *
6 ALB Alibaba Group Holding Limited * L L * L
7 ALC Aluminum Corporation of China Ltd. * *
8 ALH Alibaba Health Information Technology Ltd. * * *
9 AMC China AMC CSI 300 Index ETF * L * *
10 BCL Bank of China Ltd. * * * *
11 BCM Bank of Communications Co. Ltd. * * * *
12 BEA Bank of East Asia, Ltd., The *
13 BIU Baidu, Inc. * * * * *
14 BLI Bilibili Inc. * * * *
15 BOC BOC Hong Kong (Holdings) Ltd. * * *
16 BUD Budweiser Brewing Company APAC Limited * L *
17 BYD BYD Company Limited *
18 BYE BYD Electronic International Company Limited * *
19 CCB China Construction Bank Corporation * * L * * L *
20 CCC China Communications Construction Co. Ltd. * * *
21 CCE China Coal Energy Co. Ltd. * *
22 CDA China Cinda Asset Management Co. Ltd. * *
23 CGN CGN Power Co. Ltd. * *
24 CHT China Mobile Ltd. * * L * * *
25 CHU China Unicom (Hong Kong) Ltd. * * * *
26 CIT CITIC Ltd. * * *
27 CKH CK Hutchison Holdings Ltd. *
28 CLI China Life Insurance Co. Ltd. * * L L * *
29 CLP CLP Holdings Ltd. * * *
30 CMB China Merchants Bank Co. Ltd. * * L L *
31 CNC CNOOC Ltd. * * L L *
32 COG Country Garden Holdings Co. Ltd. * * * L
33 COL China Overseas Land & Investment Ltd. * *
34 CPC China Petroleum & Chemical Corporation * * L L * *
35 CPI China Pacific Insurance Group Co. Ltd. * *
36 CSA CSOP FTSE China A50 ETF * L * * *
37 CSE China Shenhua Energy Co. Ltd. * *
38 CTB China CITIC Bank Corporation Ltd. * * * *
39 CTC China Telecom Corporation Ltd * * * *
40 CTS CITIC Securities Co. Ltd. * * *
41 EVG China Evergrande Group * L *
42 GAC Guangzhou Automobile Group Co., Ltd. *
43 GAH Geely Automobile Holdings Ltd. * * L * L
44 GLX Galaxy Entertainment Group Ltd. * * L * L
45 GWM Great Wall Motor Co. Ltd. * *
46 HAI Haitong Securities Co. Ltd. * * *
47 HDO Haidilao International Holding Limited * *
48 HCF Hang Seng China Enterprises Index ETF *
49 HEH Power Assets Holdings Ltd. * *
50 HEX Hong Kong Exchanges & Clearing Ltd. * * L * * *
51 HKB HSBC Holdings Plc. * * L * * L *
52 HKG Hong Kong and China Gas Co. Ltd., The * * *
53 HLD Henderson Land Development Co. Ltd. * *
54 HNP Huaneng Power International, Inc. * *
55 HSB Hang Seng Bank Ltd. * *
56 ICB Industrial and Commercial Bank of China Ltd. * * L * * L *
57 JDC JD.com, Inc. * * *
58 JDH JD Health International Inc. * *
59 KDS Kingdee International Software Group Co., Ltd. * *
60 KSO Kingsoft Corporation Ltd. * *
61 KST Kuaishou Technology * * * *
62 LAU Li Auto Inc. *
63 LNK Link Real Estate Investment Trust * *
64 MET Meituan Dianping L *
65 MIU XiaoMi Corporation * * L L *
66 MSB China Minsheng Banking Corp., Ltd. * * *
67 MTR MTR Corporation Ltd. * * *
68 NCL New China Life Insurance Co. Ltd. * *
69 NFU Nongfu Spring Company Limited *
70 NTE NetEase, Inc. * * *
71 NWD New World Development Co. Ltd. * *
72 PAI Ping An Insurance (Group) Co. of China Ltd. * * * * *
73 PEC PetroChina Co. Ltd. * * * *
74 PEN XPeng Inc. * * *
75 PHT Ping An Healthcare and Technology Co., Ltd. *
76 PIC PICC Property and Casualty Co. Ltd. * * * *
77 SAN Sands China Ltd. * * L *
78 SHK Sun Hung Kai Properties Ltd. *
79 SMC Semiconductor Manufacturing International Corporation * * *
80 SNO Sunny Optical Technology (Group) Co. Ltd. L *
81 SUN Sunac China Holdings Ltd. * L *
82 SWA Swire Pacific Ltd. 'A' *
83 TCH Tencent Holdings Ltd. L * * L * * L *
84 TRP Trip.com Group Limited * *
85 TWR China Tower Corporation Limited * * L L * L
86 WHL The Wharf (Holdings) Ltd. *
87 WXB WuXi Biologics (Cayman) Inc. * *
88 YZC Yanzhou Coal Mining Co. Ltd. *
89 ZAO ZhongAn Online P & C Insurance Company Limited *
90 ZJM Zijin Mining Group Co., Ltd. *


L  - Denotes Liquidity Provider
*  - Denotes CQMM
√  - Denotes QRMM

Market Making/Liquidity providing obligations and Incentives

For details of the Market Making/Liquidity Providing Obligations and Incentives of Equity Index Products, please refer our webpage below:

https://www.hkex.com.hk/Products/Listed-Derivatives/Market-Maker-Program/Market-Maker-Obligations-and-Incentives?sc_lang=en