Finance Feeds logo

HKEX names liquidity providers and market makers for Alibaba’s futures and options

Maria Nikolova

Stock futures and stock options on Alibaba Group Holding Limited will be introduced on November 26, 2019.

Hong Kong Exchanges and Clearing Limited (HKEX) has earlier today published a list of the liquidity providers and market makers for options and futures of Alibaba Group Holding Limited.

Stock futures on Alibaba will commence trading on Tuesday, November 26, 2019. Hong Kong Futures Exchange Limited announces the following market maker and liquidity providers:

  • Market Maker: IMC Asia Pacific Limited;
  • Liquidity Providers: Eclipse Options (HK) Limited and Haitong International Futures Limited.

The position limit for the Alibaba stock futures will be 5,000 open contracts per contract month. During the first two weeks of the introduction of Alibaba stock futures (i.e. between 26 November 2019 and 9 December 2019), the market making / liquidity providing obligation in terms of the maximum bid / ask spread will be two times of the original obligation.

Market makers/LPs are required to provide bid/ask quotes on the first two listed contract months. On the Commencement Day, the first two listed contract months will be December 2019 and January 2020.

Stock options on Alibaba will commence trading on Tuesday, 26 November 2019. The Stock Exchange of Hong Kong Limited announces the following market makers:

  • Eclipse Options (HK) Limited;
  • IMC Asia Pacific Limited;
  • I-Access Investors Limited;
  • Haitong International Securities Company Limited;
  • Optiver Trading Hong Kong Limited;
  • Susquehanna Hong Kong Limited;
  • Guotai Junan Securities (Hong Kong) Limited.

In order to offer more choices for investors, 12 strikes above and below HK$187.5, the nearest maximum offer price (i.e. HK$188) of the underlying stock, will be available for trading on the Commencement Date. New strike prices subsequent to the Commencement Date will be introduced according to the Operational Trading Procedures for Options Trading Exchange Participants.

The position limit for Alibaba options contracts will be 50,000 open contracts in any one market direction for all expiry months combined.

During the first two weeks (i.e. between 26 November 2019 and 9 December 2019), the market making obligations in terms of the maximum bid / ask spread will be two times of the original obligation.

From the Commencement Date to November 28, 2019, there will be six contract months available for trading and the spot month contract will be December 2019 (i.e. the last third quarter month will not be available). During this period, market makers are required to select assigned series from the six expiry months available. From November 29, 2019 onwards, the number of expiry months available for trading will resume to seven.

Subscribe

Read this next

Fintech

TNS brings full-stack market data management to EMEA

“We are also delighted to have Ben Myers join our London-based TNS Financial Markets team as Head of Strategic Sales for EMEA, to bolster our presence in the region.”

Chainwire

Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Symbol of Ramp network
Executive Moves

INFINOX hires Mayne Ayliffe as Global Head of HR

“I look forward to working with our teams around the world to develop a strategic HR agenda that supports high performance and is centred on human motivation.”

Mayne Ayliffe joins INFINOX
Fintech

Sterling to provide risk and margin support for fixed income

“Firms must have the tools to effectively manage their risk across all asset classes. As yields rise, we see more exposure from clients in the fixed income space. We understand their need to measure and mitigate risk in a highly regulated environment.”

Retail FX

FXOpen launches HK share CFDs: Tencent, Alibaba, Xiaomi, Baidu

Hong Kong share CFDs will be commission-free for a limited period of time.

Retail FX

IronFX Celebrates an Award-Winning Start to 2024 with a Series of Industry Recognitions

IronFX, a global leader in online trading, has embarked on 2024 with a spectacular display of accolades that highlight its commitment to excellence and innovation in the competitive financial services sector.

Industry News

FIA urges CFTC to regulate use cases rather than AI itself

“We urge the CFTC to refrain from crafting new regulations that generally regulate AI because this approach presents certain well-known pitfalls. By approaching the issue from the perspective of AI as a technology, rather than the use case for the technology, corresponding regulations would likely necessitate a definition of AI. We anticipate that any attempt to properly define AI would be very challenging and require considerable resources.”

Education, Inside View

The Power of Public Relations in Finance: Shaping Perceptions & Building Reputation

It’s safe to say that the finance industry has faced its share of reputation crises over the years, from the 2008 financial collapse to the many scandals around irresponsible lending, political corruption, and even Ponzi schemes. 

Journalists interviewing a man with blue and red microphone
Digital Assets

Crossover’s crypto ECN executed over $3 billion in Q1 2024

“Our growth is also driving continued increases in the percentages of trades that are ‘Order Crossing Order’ (OXO). Currently, roughly 10% of all trades executed on CROSSx are OXO, another differentiator in our platform’s capacity. This capacity and our unique execution model provide value to both the market maker and taker, as evidenced by our commercial model.”

<
✖