Cap 571Z s 15 Futures contracts traded by means of authorized automated trading services (Securities and Futures (Levy) Order; SECURITIES AND FUTURES ORDINANCE)

Contents of Section

Chapter:	571Z	Title:	Securities and Futures (Levy) Order	Gazette Number:	E.R. 1 of 2012
Section:	15	Heading:	Futures contracts traded by means of authorized automated trading services	Version Date:	09/02/2012

(1) Subject to subsections (2) and (3), for the purposes of section 394(1)(c) of the Ordinance, the levy payable for a sale and purchase of a futures contract traded by means of authorized automated trading services provided by Hong Kong Mercantile Exchange Limited-

(a) is payable by the seller and purchaser; and

(b) is-

(i) in the case of the seller, $0.60; or

(ii) in the case of the purchaser, $0.60.

(2) For the purposes of section 394(1)(c) of the Ordinance, the levy payable for a sale and purchase of a futures contract traded by means of authorized automated trading services provided by a person other than Hong Kong Mercantile Exchange Limited is nil.
(3) During the period of 6 months commencing on the first day of trading in a futures contract by means of authorized automated trading services, the levy payable under subsection (1) by the seller and purchaser for the sale and purchase of the futures contract is nil.
(4) If a sale and purchase of a futures contract traded by means of authorized automated trading services occurs before the commencement date* of the Securities and Futures (Levy) (Amendment) Order 2011 (L.N. 115 of 2011)-

(a) subsection (3) does not have the effect of specifying a rate or an amount of levy on that sale and purchase; and

(b) in calculating a period of 6 months for the purposes of subsection (3), regard may be had to any period of trading conducted before that date.

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Note:
* Commencement date: 18 November 2011.