On June 20, 2022, the St. Petersburg Stock Exchange will begin trading 12 securities with a primary listing on the Hong Kong Stock Exchange (HKEX) and will provide a ready-made exchange infrastructure for trial operation for bidders. This is stated in the message of the exchange.
The trial operation format will allow brokers in a functioning exchange market to set up accounting systems related to settlements in the new currency – Hong Kong dollars (HKD), as well as with the calculation and retention of Stamp Duty (stump duty). As soon as the technology is ready, brokers will provide access to trading for all Russian investors. St. Petersburg Stock Exchange expects that leading Russian brokers will provide service to clients within 1-1.5 months.
As part of the market development, it is planned to gradually expand the list of Hong Kong securities, to 200 by the end of 2022 and to 1000 during 2023.
Hong Kong securities will be included in the "foreign securities" group of instruments and will be traded under numerical tickers that are used on the original trading platform.
Trading and settlement of securities will be carried out in Hong Kong dollars (HKD). One lot on the St. Petersburg Stock Exchange will contain one security or a multiple of ten securities. HKD currency conversion will be provided by broker services.
The trading session will be held from 08:00 to 18:00 MSK. Securities settlements will be carried out on the second trading day (T+2), the trading calendar will be synchronized with the trading calendar of the Hong Kong Stock Exchange.
According to Hong Kong law, stamp duty is charged when trading securities of companies listed on HKEX. The stamp duty rate is 0.13% of the transaction amount and is charged from each side of the transaction – the seller and the buyer, rounded to the whole HKD.
PJSC SPB Exchange is the largest organizer of trading in foreign securities within the Russian jurisdiction and creates investment opportunities for private investors through a wide range of investment instruments.
