The Hong Kong Stock and Futures Exchanges - Law and Microstructure


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The Hong Kong Stock and Futures Exchanges - Law and Microstructure

Dec 2012
Hard cover

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The Hong Kong Stock and Futures Exchanges – Law and Microstructure is the first book designed to provide readers with a legal, regulatory and operational insight into the mechanisms for securities trading in Hong Kong.  This book opens the “black box” by providing detailed and comprehensive analyses not only of the licensing of exchanges and broker-dealers, but also of the processes and mechanisms for trading, clearing and settling transactions in stock, options, and futures. Further, it benchmarks the state of the Hong Kong market against international regulatory standards and developments in international securities markets. The text also explains the exciting technical and international transformation of the Hong Kong exchanges in recent years and proposes a model for the eventual integration of the Hong Kong securities market into the securities markets of mainland China.
Experienced authorship by Professor David C. Donald, the Chinese University of Hong Kong, Faculty of Law
  • Possesses years of experience in the areas of securities markets and market structure gained in Europe, the U.S. and Hong Kong
  • Executive Director of the CUHK Law Faculty’s Centre for Financial Regulation and Economic Development
Comprehensive and completely up-to-date exploring hot topic issues such as:
  • Roles and powers of the SFC and the HKEx
  • The law and operation of securities trading on the SEHK and HKFE
  • The law and operation of clearing and settlement in HKSCC, CCASS, HKCC, DCASS
  • The place of Hong Kong within the international and Chinese financial systems
Offers an analysis and evaluation of the HKEx’s recent strategic initiatives, including:
  • The increasing role of trading in securities denominated in RMB
  • The upgrade of computer systems to handle more speed and data flow
  • The increasing importance of international alliances and acquisitions