HKEx confirms intent on closing auction

Mar 4, 2014

Hong Kong's exchange has set a timetable for re-implementing a long-sought-after closing auction for its cash market. A price cap is expected to be introduced to dampen volatility.

Hong Kong Exchanges & Clearing will consult this year on reinstating a closing auction for the cash equities market, a much-sought-after mechanism that is thought to dampen trading volatility and help fund managers reduce portfolio tracking error.

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