If clients place enhanced limit order (ELO), all the orders will be automatically sent to Stock Exchange until the pre-open session (09:20 am) as at- auction limit order (ALO). After matching (09:20-09:22) session, unfilled at-auction limit orders will be carried forward to Continuous Trading Session (“CTS”) as limit orders. Upon the end of CTS, any outstanding orders within permissible price limit will be automatically carried forward from CTS to Closing Auction Trading Period (CAS) as at- Auction Limit order(ALO). If the at- Auction Limit order(ALO) still being unfilled during CAS, the orders will be cancelled.

*The above also applies to all enhanced limit orders (ELO) being placed within 0900-0920

Please click here to learn more about the HKEx trading mechanism and the description of HK stock order types

Currently, the SFC can only identify exchange participants (ie, brokers) which place securities orders directly through the Stock Exchange of Hong Kong’s (SEHK) trading system. When the SFC detects suspicious trading activities, it needs to seek information from brokers about the actual investors behind the trades. This limits the effectiveness of its market surveillance work. With an investor identification regime, the SFC could quickly obtain information about investors who place orders. This will enhance the SFC’s market surveillance function, help maintain market integrity and strengthen investor protection, thereby promoting the long-term development of the market.

Please visit the Securities and Futures Commission’s (SFC) website for more information.