A person familiar with the matter revealed that Hong Kong decision makers are preparing to abandon the traditional practices for many years and formulate proposals to allow stock transactions in extreme weather.
According to Bloomberg News on Thursday (May 11), a working group composed of the Hong Kong Stock Exchange, the Hong Kong Securities Regulatory Commission and the Hong Kong HKMA is drafting a plan that allows normal transactions during typhoons.The relevant initiative proposed in the fiscal budget in February.
The report quoted anonymous people who said that the options provided include that when the transaction is normal, a small broker can choose to postpone the settlement and delivery.
People familiar with the matter said that although the risks are very small in the outside world, they are still planned to bear the relevant risks by the Hong Kong Exchange. The Hong Kong Securities Regulatory Commission and the Hong Kong HKMA provide corresponding support.The final draft of the proposal is still discussing, or it has been adjusted before the upcoming public consultation.
The Hong Kong Exchange has a routine arrangement for the transactions of extreme weather. Sometimes it will notify the transaction one or two hours in advance. This approach is rare in global financial centers.
Due to the emergence of home office trends during the epidemic, the practice of suspending transactions in severe weather seems to be more and more outdated.In addition, as the extreme weather conditions caused by climate change are becoming more and more common, this approach may also cause more inconvenience.
A spokesman for the Hong Kong Exchange said in the statement: "This evaluation is still in the early stage. No matter what the final plan is, all stakeholders and markets are required to participate under the lead of the Hong Kong government and regulatory agencies.Cooperate. Safe employees and customers' safety is still our important consideration. If necessary, we will post further news to the market at appropriate time. "The initiative of normal transactions is beneficial to Hong Kong as a whole. "The Hong Kong Stock Exchange is evaluating the relevant arrangements.
The Champions League of the Executive CEO of the Hong Kong Exchange proposed the initiative shortly after taking office in 2021, which means that it can ensure that the stock market will continue to operate from the operation of the home office of the crown disease.
