Closing Auction Session

With effect from 25 July 2016, the Phase 1 of Closing Auction Session (“CAS”) will be launched. The following are the main features of CAS Phase 1:

  1. The Closing Auction Session will be from 16:01 to 16:10 for a normal trading day and from 12:01 to 12:10 for a half trading day,with the actual market closing time to be determined randomly by the system between 16:08 and 16:10 and between 12:08 and 12:10 respectively.
  2. The Client can enter At-Auction Orders, At-Auction Limit Orders during the CAS. For details, please refer to the FAQ on order types.
  3. Phase 1 will include all the Hang Seng Composite LargeCap Index and Hang Seng Composite MidCap Index constituent stocks, the H shares which have corresponding A shares listed on the exchanges in Mainland China and all ETFs. Structured products are excluded from the CAS and liquidity provision of structured product is not applicable to warrants and callable bull/bear contracts during the CAS.
  4. No input of short-selling order is allowed in Phase 1 of Closing Auction Session. Unexecuted short-selling orders inputted in Continuous Trading Session will be automatically carried forward to the Closing Auction Session .
  5. Odd lot (buy and sell) will not be entertained after 16:01.
  6. For details of the CAS, please refer to HKEX website:
  7. CAS relevant information display in TSCI APP will be ready in late 2016.