Hong Kong Exchanges and Clearing Limited (HKEX) aims to enhance its self-match prevention (SMP) service in the derivatives market by Q2 2024, pending regulatory approval. The improvements include an additional SMP model for Exchange Participants (EPs) to avoid accidental self-matching of orders. Clients can also apply through EPs to prevent self-matching. The new SMP model introduces an SMP ID as an identifier, cancels orders with the same ID, and offers two cancellation methods. It will also prevent self-matching across different EPs. The existing SMP model will remain in service and unchanged in feature, and HKEX plans to introduce SMP in its securities market by Q1 2024. The SMP service is a free and optional for both markets.
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