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Market Passport for Banks and Brokers
Market information
Supporting you
Key market information
Local currencyHong Kong
Dollar (HKD)
2017 GDPUSD
342bn
Time zoneGMT
+8 hours
Numbering
systemISIN
Main stock
exchange indexHang Seng
Key market figures
Local market infrastructures
| Equities | Corporate bonds | Government bonds | Derivatives | |
|---|---|---|---|---|
| Trading | SEHK | OTC via CMU | OTC via CMU | SEKH/HKFE |
| Clearing | HKSCC | n/a | n/a | SEOCH/HKCC |
| Settlement and custody | HKSCC | CMU | CMU | HKSCC |
| Cash leg | HKICL | HKMA | HKMA | n/a |
Local market authorities and regulators
- The Hong Kong Monetary Authority (HKMA) acts as the central bank and the regulator of banks
- The Securities and Futures Commission (SFC) acts as the securities and derivatives regulator
Market practices (ALL TIMES ARE LOCAL)
Nominal limit of 10 units of the relevant settlement currency of the trade: HKD 10, USD 10, CNY 10.
See buy-in practice below.
A compulsory buy-in is conducted against the failing party on the morning of T+3 with the failing party being responsible for buy-in costs and any incidental expenses, as well as a buy-in penalty of 0.5% imposed by HKSCC.
Something interesting to know before you visit us in HONG KONG SAR, CHINA
In Hong Kong SAR, China, you are considered lucky if you have a daughter followed by a son – their characters in Chinese symbols mean “double happiness”.
BNP Paribas customers benefit from free access to more detailed market information on our NeoLink webportal. Click here to access the Market Profiles or contact your relationship manager.
Supporting you
BNP Paribas Securities Services in HONG KONG SAR, CHINA
We are the largest General Clearing Participant (GCP) for equities in the Hong Kong SAR, China market, working closely with HKEx to maintain our position as the premier service provider to banks and broker dealers.
Our main services
Core
We offer local clearing and custody to domestic and foreign institutions. Our core services include settlement, on-exchange clearing, safekeeping, corporate actions, proxy services, cash and collateral management.
Market-specific
- Innovative solutions to access the mainland Chinese market
- Local clearing solutions for both Hong Kong SAR, China equities and Stock Connect Northbound trading, supporting the optional Stock Connect real-time delivery versus payment (DVP) model
- Multi-Approved Partner Broker (MAP) Model, an integrated Stock Connect (Northbound) solution utilising partner brokers to internalise the settlement of transactions between the account of the investor and their broker
- Live since July 2017, one of the foreign banks providing Bond Connect settlement and custody solutions
- Broker-dealer outsourcing services
What makes us different
- Proactive involvement to enhance local market infrastructure (NextGen programme) and the Connect programmes
- The largest General Clearing Participant in the Hong Kong SAR, China equities markets
- Bespoke services to automate Bond Connect operating flows
- Innovative, responsive technology responding to market changes and the individual needs of our clients
Selected market recognition
- Global Investor Sub-Custody Survey(2017): Ranked first for Hong Kong SAR, China – unweighted
- The Asset Awards (2017): Best Sub-custodian, Broker-Dealers APAC
A sound partner
The BNP Paribas Securities Services Hong Kong SAR, China branch was established in 2008, now clearing approximately 15% of the Hong Kong SAR, China equities market. The service delivered by its 120 Hong Kong SAR, China - based staff leverages the support of our regional centre of excellence in Chennai.
Contact
For more information, please contact your relationship manager or
Angely Yip, Head of Sales and Relationship Management, North Asia
angely.yip@asia.bnpparibas.com
Something interesting to know before you visit us in HONG KONG SAR, CHINA
In Hong Kong SAR, China, you are considered lucky if you have a daughter followed by a son – their characters in Chinese symbols mean “double happiness.”