Starting from 23 September 2024, the settlement arrangement for all securities transaction via Hong Kong Exchanges and Clearing Limited (“HKEX”) will no longer be postponed due to severe weather conditions (“SWT”, note 1). According to the requirements of HKEX, CMB International Securities Limited, CMB International Global Markets Limited and CMB International Futures Limited (“CMBI”) will support the trading activities during SWT. CMBI will maintain the following services during SWT to ensure that your trading and account management remain unaffected as much as possible:
· Trading Market Services: Trading, clearing, and settlement services for securities and futures contracts listed in Hong Kong (Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect, futures and options including normal · Trading session and after-hours trading session) as well as Overseas Markets;
· Trading, clearing, and settlement services for money market funds and ZHAOYINGBAO;
· Over-the-Counter (OTC) Trading Services: Clearing and settlement services for OTC products such as structured products and bonds ;
· IPO and Grey Market: Trading, clearing, and settlement services for initial public offerings (IPOs) and also its grey market in Hong Kong;
· Funds Services: Clients may conduct fund deposits, withdrawals, internal transfers, and currency exchange electronically (excluding physical cheque);
· Stock/Stock Options Services: Stock deposit and withdrawal services via electronic channels (only SI & ISI and excluding physical certificates);
· Corporate Actions and Agency Services: Provision of corporate actions and agency services in Hong Kong and other overseas markets, subject to the specific arrangements affected by custodian banks and relevant regulations.
Recommendations during SWT:
1. Office Closure: Physical office will be closed to the public on trading day(s) with SWT. All appointments for physical services on such day(s) will be cancelled.
2. Electronic Trading is recommended: You may call your Relationship Managers / CMBI trading hotline at +852 3761 8828 (Stock) / +852 3761 8812 (Futures) or login to mobile APP for order placement.
3. Electronic Transfer is recommended: Banks may be closed during SWT with only electronic channels available. Electronic fund transfers is recommended and you are advised to review and adjust your electronic transfer limits in advance to ensure flexibility in fund arrangements, especially to meet margin calls.
4. Margin call arrangements for margin financing services and derivative product services (including futures and options):
· Our policies regarding margin calls and forced liquidation remain unchanged. You should be aware that price fluctuations of stocks or related positions may lead to a fall in margin levels. If your account is under a margin call, you must promptly meet the required margin requirement to avoid forced liquidation.
· The market may be more volatile and illiquid. You should closely monitor and cover your positions in a timely manner.
· To minimize the risk of failed settling margin calls, you are highly recommended to use electronic trading and transfers during SWT and manage to have a sufficient electronic transfer limit to meet margin calls during SWT.
5. Service Feasibility: The above service arrangements may be affected by the feasibility and arrangements of our service providers, banks, issuers, custodians, counter parties and execution brokers etc. We will notify you promptly of any changes.
6. Customer Service Assistance: For other service assistance, please feel free to contact your Relationship Managers, online CS in APP or call our Customer Service Hotline at +852 3761 8888 or 400-120-9555.
Amendment of client agreement
In order to accommodate trading under severe weather conditions, the Account Agreements between CMBI and clients has been amended, effective from 23 September 2024. The amendments have been posted on the website of CMBI at（http://www.cmbi.com.hk） and (https://futures.cmbi.com.hk/zh-HK/) .
Note 1
|
Effective Date |
Market |
Pre-implementation Arrangements |
Post-implementation Arrangements |
|
Sept. 23, 2024 |
Hong Kong securities and derivatives markets |
An issuance of Typhoon Signal No.8 or above, a Black Rainstorm Warning or "Extreme Conditions", could lead to delayed market opening or suspension of trading, clearing and settlement services. |
Remain open and provide trading, clearing and settlement services during severe weather conditions |
Please refer to the Hong Kong Exchange website about Severe Weather Arrangements: https://www.hkex.com.hk/Services/Trading-hours-and-Severe-Weather-Arrangements?sc_lang=en
CMB International
