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HKEx to Start Closing Auction Session on 26 May 2008.

Publication: M2 Presswire
Publication Date: 31-OCT-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-31 October 2007-HKEx: HKEx to Start Closing Auction Session on 26 May 2008(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:31102007

Hong Kong Exchanges and Clearing Limited (HKEx) announced today (Wednesday) a closing auction session for its securities market will commence on 26 May 2008. The target date takes into consideration system preparations by Exchange Participants and the scheduled introduction of five-digit stock codes in April 2008.

The results of a public consultation conducted by HKEx earlier this year indicated broad market support for the introduction of a closing auction session. Based on the results, which were included in the Consultation Conclusions published in July this year, HKEx announced the closing auction session would be introduced subject to formal approval of necessary rule amendments by the Securities and Futures Commission.

Such approval was recently granted.

After implementation of the closing auction session,...

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