Closing price uncertainty hits traders on Hong Kong Stock Exchange


A lack of closing price and restrictions on throughput capacity on the Hong Kong Stock Exchange are making it almost impossible to trade close to the cash market closing price, say equity derivative structurers and execution brokers.

Instead of a closing price, the Hong Kong Exchanges & Clearing (HKEx) trading system takes the last five prints of a stock at 15-second intervals. It then takes the median of these five prints as the closing price and publishes it after market close.

According to one

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