Buy Order Price Checking Mechanism
To prevent the misuse of the Northbound quota, the Stock Exchange of Hong Kong Limited has established a dynamic price checking mechanism for buy orders.
A buy order whose input price is below the current best bid by more than the specified percentage will be rejected by CSC. If there is no current best bid, the latest traded price will be used. If there is neither a current best bid nor a latest traded price, the previous closing price will be used.
The initial dynamic price checking percentage set by the Stock Exchange of Hong Kong Limited is 3%, and this percentage may be adjusted from time to time depending on market conditions.
