Page 188 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

Notes:

1.Under section 35(1) of the Securities and Futures Ordinance, the SFC may

prescribe limits on the number of futures and options contracts which a person may,

directly or indirectly, hold or control and require a person holding or controlling a

reportable position to lodge a notice of that reportable position with a recognised

exchange company or the SFC. The statutory prescribed limits and reportable

positions are set out in the Securities and Futures (Contracts Limits and Reportable

Positions) Rules.

2.The proposals specify that prescribed limits and reportable positions would

apply to each unit trust and sub-fund under an umbrella fund as if it were a

stand-alone fund.

3.The other proposals include introducing an authorisation mechanism for a

clearing participant to hold excess positions when providing clearing services and
prescribing position limits and reportable positions in relation to some futures and

options contracts launched by Hong Kong Exchanges and Clearing Limited (HKEX)

in recent years.

4.Under the existing rules, reportable positions are only required to be reported

on business days. After the launch of HKEX’s Derivatives Holiday Trading

programme on 9 May 2022, this will have to be changed to include holiday trading

days. For details, please refer to HKEX’s consultation conclusions.

5.These would include the weekly Hang Seng Index (HSI) and Hang Seng China

Enterprises Index (HSCEI) options contracts, HSI and HSCEI futures options

contracts, and Hang Seng TECH Index futures and options contracts. Under the

existing Rules, the SFC may only authorise excess positions in HSI and HSCEI

futures and options contracts.

https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?

refNo=22PR27

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