In order to further improve the market quality in the Hong Kong Securities market, HKEX plans to introduce a new Self-Match Prevention (SMP) service in its securities market in late Q1 2024. This page provides a centralized point of information for market participants (i.e. EPs and/or their clients) about the implementation details of SMP.
| Summary of New SMP Model in Hong Kong Securities Market |
Service Nature
|
Optional service |
| Cancellation Method |
Cancel Aggressive or Cancel Passive prescribed at SMP ID |
| Level of Granularity on SMP Setting |
Based on SMP ID |
| SMP Coverage |
Multi-broker model
(Prevent self-matching for orders with the same SMP ID within/ across EPs) |
| Applicable Sessions |
Continuous Trading Session |
| Fee |
Free of charge |
Reference Materials
FAQ
Circulars
Technical Documents
Enquiry
- For questions about the technical guidance for systems and related SMP materials, please address to otpc@hkex.com.hk.