Friday May 15 2015
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Hong Kong
Link: http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=15PR15
The Securities and Futures Commission (SFC) has released consultation conclusions on proposals to enhance and unify the regulatory regime for alternative liquidity pools.
Highlights of the enhanced regime include:
- no individual investors (including individual professional investors and their wholly owned investment holding corporations) will be allowed to use ALPs;
- client facilitation orders will be treated as proprietary orders, which will have a lower execution priority in ALPs than agency orders; and
- there will be no mandatory “opt-in” requirement before client orders can be routed to ALPs, but ALP operators should permit their clients to opt out of having their orders transacted in ALPs.
Click on the link above for further details.