Trading Specification
| SSE (Northbound trading) | SZSE (Northbound trading) | HKStock (Southbound trading) |
|---|---|---|
| Qualification | ||
| No restriction | ChiNext only open to institutional professional investors | Institutional investors or holders of personal account with no less than RMB500,000. |
| Constituent stock of relevant indices | ||
| SSE 180 Index and SSE 380 Index | All the constituent stocks of the SZSE Component Index and the SZSE Small / Mid Cap Innovation Index which have a market capitalization of not less than RMB 6 billion |
Hang Seng Composite LargeCap Index and Hang Seng Composite MidCap Index |
| A+H shares | ||
| All the SSE-listed and SZSE-listed A shares that are not included as constituent stocks of the relevant indices but which have corresponding H shares listed on SEHK | All the SSE-listed and SZSE-listed A shares that are not included as constituent stocks of the relevant indices but which have corresponding H shares listed on SEHK | All H shares that are not included as constituent stocks of the relevant indices but which have corresponding shares in the form of SSE-listed Shares / SZSE-listed Shares |
| Except | ||
| SSE-listed / SZSE-listed shares which are not traded in RMB and SSE-listed / SZSE-listed shares which are included in the “risk alert board" | SSE-listed / SZSE-listed shares which are not traded in RMB and SSE-listed / SZSE-listed shares which are included in the “risk alert board" | Hong Kong shares that are not traded in Hong Kong dollars (HKD); H shares which have corresponding shares listed and traded on an exchange in Mainland China other than SSE / SZSE; and H shares which have corresponding A shares put under “risk alert” |
| Daily Quota | ||
| The Northbound Daily Quota is set at RMB 13 billion for each of Shanghai Connect and Shenzhen Connect | The Northbound Daily Quota is set at RMB 13 billion for each of Shanghai Connect and Shenzhen Connect | Southbound Daily Quota is set at RMB 10.5 billion for each of Shanghai Connect and Shenzhen Connect |
| Number of Tradable Stocks | ||
| 573 | 880 | SSE : 318 SZSE : 417 |
| Trading Hours | ||
| Opening Call Auction 09:15 – 09:25 Continuous Auction (Morning) 09:30 – 11:30 Continuous Auction (Afternoon) 13:00 – 15:00 Closing Call Auction N/A |
Opening Call Auction 09:15 – 09:25 Continuous Auction (Morning) 09:30 – 11:30 Continuous Auction (Afternoon) 13:00 – 14:57 Closing Call Auction 14:57 – 15:00 |
Pre-opening 09:00 – 09:30 Continuous Auction (Morning) 09:30 – 12:00 Continuous Auction (Afternoon) 13:00 – 16:00 Closing Call Auction 16:00 – 16:10 |
| Trading Currency | ||
| RMB | RMB | HKD |
| Day (Turnaround) Trading | ||
| Day trading is not allowed | Day trading is not allowed | Allowed |
| Initial Public Offering | ||
| Not available | Not available | Not available |
| Board Lot Size | ||
| 100 shares per lot | 100 shares per lot | Set by listed company |
| Upper limit for Order size | ||
| 1,000,000 shares | 1,000,000 shares | Set by listed company |
| Price Spread | ||
| RMB0.01 | RMB0.01 | Subject to the stock price |
| Price Limit | ||
| General price limit of ±10% based on previous closing price Special Price Limit: ±5% for ST and *ST stock |
General price limit of ±10% based on previous closing price Special Price Limit: ±5% for ST and *ST stock |
Under Volatility Control Mechanism (VCM), HSI & HSCEI constituent stocks will put into a cooling off period for 5 minutes if the stock price fluctuates more than 10% from the reference price from 5 minutes ago. Maximum of 1 trigger in morning and afternoon session. |
| Settlement Cycle | ||
| Securities settlement on Trade day Money settlement on T+1 day |
Securities settlement on Trade day Money settlement on T+1 day |
Both Securities settlement and Money settlement on T+2 day |
| Shareholder Voting | ||
| Through CCASS’s existing voting functions | Through CCASS’s existing voting functions | ChinaClear to collect and submit votes |