- Retail infrastructure bonds can be traded through the Hong Kong Stock Exchange or "over-the-counter".
- A more detailed description of the trading arrangements is available in the programme circular and issue circular.
Through the Stock Exchange
- You may trade retail infrastructure bonds through the Stock Exchange if you are trading through HKSCC or a securities broker.
- Although retail infrastructure bonds are listed and can be traded on the Hong Kong Stock Exchange, you should be aware that this does not guarantee an active secondary trading market for the retail infrastructure bonds or that you will have access to a firm bid or offer price for your retail infrastructure bonds, nor does it guarantee the ready availability of pricing information in relation to your retail infrastructure bonds.
- Settlement of trades in retail infrastructure bonds listed on the Hong Kong Stock Exchange is required to take place in CCASS on the second settlement day after the trade date.
Over-the-counter
- You may trade retail infrastructure bonds "over-the-counter" if you are trading with a market maker, a placing bank, a recognized dealer or any other person who is willing to trade with you.
- While HKSAR Government has appointed some of the placing banks as market makers to quote prices for the retail infrastructure bonds on a best-efforts basis, there may not be an active secondary market. If you try to sell your retail infrastructure bonds before maturity, you may not be able to find a buyer for your retail infrastructure bonds or the market value of your retail infrastructure bonds could be lower than the amount you invested.
- Settlement generally takes place on the first settlement day after the trade date.