How Can We Help?
- Account Opening
- Deposit Withdrawal
- Trading in HK Market
- Trading in US Market
- Trading in A-shares Market
- IPOs Subscription
- Corporate Action
- Account Management
1. Trading Information of Shanghai and Shenzhen Connect
| Trading Currency | RMB |
|---|---|
| Order Type | limit order or market order |
| Tick Size / Spread | Uniform at RMB 0.01 |
| Board Lot | 100 shares (applicable for buyers only) |
| Odd Lot | Sell orders only (odd lot should be made in one single order) |
| Max Order Size | 1 million shares |
| Price Limit | ±10% on previous closing price (±5% for stocks under special treatment under risk alert, i.e. ST and *ST stocks) |
| Day (Turnaround) Trading | Not allowed |
| Block Trade | Not available |
| Manual Trade | Not available |
| Order Modification | Not available |
| Settlement cycle |
Securities: Settlement on T day Cash from China Connect trades: Settlement on T+1 day |
2. Disclosure Obligation
If client holds or controls up to 5% of the issued shares of China Connect, the client is required to report in writing to the China Securities Regulatory Commission (“CSRC”) and the relevant exchange, and inform the Mainland listed company within three working days of reaching 5%.
The client is not allowed to continue purchasing or selling shares in that Mainland listed company during the three days notification period.
3. Shareholding Restriction
A single foreign investor’s shareholding in a Mainland listed company is not allowed to exceed 10% of the company’s total issued shares, while all foreign investors’ shareholding in the A shares of the listed company is not allowed to exceed 30% of its total issued shares.
4. Trading Shenzhen ChiNext and Shanghai Star shares
Trading Shenzhen ChiNext and Shanghai Star shares are limited to institutional professional investors.
5. Forced-sale Arrangement
Each IBKR client is not allowed to hold more than a specific percentage of the China Connect listing company's total issued shares. HKEX requires the client to follow the forced-sell requirements if the shares exceed the limit:
| Situation | Shareholding (in a listed company) |
|---|---|
| A single foreign investor | > = 10% of the company’s total issued shares |
| All foreign investors | > = 30% of the company’s total issued shares |
6. Holidays
Clients will only be allowed to trade China Connect on days where Hong Kong and Mainland markets are both open for trading and banking services are available in both Hong Kong and Mainland markets on the corresponding settlement days. This arrangement is essential in ensuring that investors and brokers will have the necessary banking support on the relevant settlement days when they will be required to make payments.
The following table illustrates the holiday arrangement of Northbound trading of SSE/SZSE Securities:
| Mainland | Hong Kong | Open for Northbound Trading | |
|---|---|---|---|
| Day 1 | Business Day | Business Day | Yes |
| Day 2 | Business Day | Business Day | No, HK market closes on money settlement day |
| Day 3 | Business Day | Public Holiday | No, HK market closes on trading day |
| Day 4 | Public Holiday | Business Day | No, Mainland market closes |
7. Severe Weather Conditions
Information on the trading arrangement available under severe weather conditions can found on the HKEx website.