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港交所(00388.HK)擬次季起優化期指市調機制
阿思達克 01-07 08:39
港交所(00388.HK)公布,計劃次季起優化衍生產品市場的市場波動調節機制(市調機制)及開市前時段,容許市調機制於每個交易時段可被多次觸發,以保護市場持正操作。當觸發市調機制時,若價格相對5分鐘前的最後交易價變動幅度超過5%,便會觸發一次5分鐘的冷靜期。機制適用於恆生指數期貨、小型恆生指數期貨、恆生中國企業指數期貨及小型恆生中國企業指數期貨的首兩個合約月份,總計8個合約。

衍生產品市調機制於2017年初推出時,港交所採用較寬鬆及簡單易行的模式,每個交易時段最多觸發一次。港交所表示,現時市調機制已為市場所熟悉並廣泛接納,為進一步維護市場操作,計劃加強市調機制,容許於每個交易時段可被多次觸發。

另外,於開市前議價時段內,系統會在開市前不經對盤程序而定出「擬定開市價」,港交所計劃在開市前時段及開市前分配時段設立隨機停止機制,以防止競價過程接近結束時可能出現的投機行為,並鼓勵盡早輸入買賣盤。

因應隨機停止機制,開市前時段將會縮短1分鐘,開市前分配時段亦將延長1分鐘。機制適用於早市和午市的開市前議價時段,以及具有優化開市前時段的相關產品。

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