Anticipating Hong Kong Short Positions Reporting Rules, ConvergEx Updates OMS
Agency broker and trading technology provider ConvergEx has announced it will add a reporting tool to its order management system, Eze OMS, addressing the Hong Kong Securities and Futures Commission's (SFC’s) new requirements surrounding disclosure of net short positions, set to come into force this June.
The solution will create reports of users' short sales of Hong Kong Stock Exchange-listed companies as specified under the SFC regulation, automatically importing updated lists of those companies identified by the regulator, while clients using Eze Compliance will additionally be able to customize a rule to notify them when positions require disclosure.
The new rules direct firms to report those positions when, at close of trading on a Friday or other reporting day, they are valued higher than the lesser of either HK$30 million ($3.87 million) or 0.02 percent of the value of the total number of specified shares issued by the applicable listed company.
"We have always maintained that it is critically important for us to help our customers prepare for regulatory and compliance changes in a timely manner by providing robust and flexible solutions that streamline labor‐intensive regulatory reporting processes," says R.G. Manalac, managing director of Asia-Pacific consulting for ConvergEx's Eze Castle Software.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
The IMD Wrap: Talk about ‘live’ data, NAFIS 2024 is here
This year’s North American Financial Information Summit takes place this week, with an expanded agenda. Max highlights some of the must-attend sessions and new topics. But first, a history lesson...
MarketAxess builds strategy around X-Pro
MarketAxess profits were down in Q1, but revenues were up and automation volume hit a record $94 billion.
Canada’s triparty repo launch aims to fill C$60bn void
Test trades on TMX/Clearstream platform represent “quantum leap” for creaking funding markets.
People Moves: NorQuant, Tradition, Duco, HKEx, SimCorp, Hazeltree, Xceptor, Broadridge, and more
A look at the past month’s people moves in the capital markets technology and data space.
Bank-led consortium takes aim at position reporting
Five banks, including Barclays, BNP Paribas, Goldman Sachs and HSBC, have joined forces to mitigate interpretation and implementation errors in position reporting disclosures.
This Week: BBH, AllianceBernstein add data solutions, Deutsche Börse-Nodal Exchange, and more
A summary of some of the latest financial technology news.
Consortium backs BGC’s effort to challenge CME
Banks and market makers—including BofA, Citi, Goldman, Jump and Tower—will have a 26% stake in FMX.
Symphony boosts Cloud9 voice offerings with AI
The messaging and collaboration platform builds on Cloud9’s capabilities as it embraces the AI wave in what CEO Brad Levy calls “incremental” steps.
Most read
- Waters Wavelength Podcast: S&P’s CTO on AI, data, and the future of datacenters
- Waters Wavelength Podcast: Bloomberg’s Tony McManus
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services