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Self-Match Prevention (SMP)

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.

 


Updated 03 Nov 2023