香港交易所将实施收窄证券交易买卖差价第二阶段改革
Zheng Quan Shi Bao Wang·2026-01-09 11:51

Core Viewpoint - The Hong Kong Stock Exchange has successfully narrowed trading spreads since the implementation of the first phase of reforms in August last year, leading to reduced trading costs and improved overall liquidity [1] Group 1: Trading Spread Reforms - The first phase of the trading spread narrowing reform has significantly reduced trading spreads in the Hong Kong securities market [1] - The reduction in trading spreads has resulted in lower trading costs for market participants [1] - Overall liquidity in the market has improved as a result of these reforms [1] Group 2: Future Initiatives - The Hong Kong Stock Exchange plans to implement the second phase of the trading spread narrowing arrangement by mid-2026 to further enhance market efficiency and liquidity [1] - Other important initiatives include the implementation of a paperless securities market (USM) and reforms to trading units [1]

HKEX-香港交易所将实施收窄证券交易买卖差价第二阶段改革 - Reportify