Buying and selling tariffs and inventory settlement charges have been waived for 29 mounted earnings and cash market ETF buying and selling counters.
HKEX (Hong Kong Exchanges and Clearing) has announce the introduction of two new payment waivers for Hong Kong-listed mounted earnings ETFs and cash market ETFs.
The brand new initiative is a part of HKEX’s ongoing dedication to develop Hong Kong into Asia’s ETF market by way of providing better selection and broadening product range, the bourse operator mentioned in an announcement.
The payment waivers are HKEX’s newest initiative to boost its ETF market construction and drive liquidity to Hong Kong-listed ETFs, mentioned HKEX’s Head of Change Traded Merchandise, Brian Roberts. “We imagine the payment waivers are launched at an opportune time as there was a robust enhance in investor demand for China mounted earnings merchandise in recent times.”
The Hong Kong ETF market has a market cap of about HKD 404 billion, as of end-April 2021. Common day by day turnover within the first 4 months of this 12 months reached HKD 7.8 billion.
From Monday (31 Might), the buying and selling tariff of HKD 0.50 on mounted earnings ETFs and cash market ETFs might be waived.
The minimal inventory settlement payment payable by every clearing participant or clearing company participant for every commerce cleared and settled by way of CCASS can even be waived.
Additional particulars on the payment waivers are available here.
As of 28 Might 2021, there are 29 mounted earnings and cash market ETF buying and selling counters eligible for the payment waivers. The complete checklist is available here.