HKEx Doesn't Proceed With Phase 2B Reduction

The Board of Hong Kong Exchanges and Clearing Limited (HKEx) today decided not to proceed with the Phase 2B reduction of minimum trading spreads, which applies to securities trading between $0.25 and $2. Phase 2A covered securities trading between $2 and $20.

The HKEx Board's decision was made after reviewing trading and market data for the first six months following Phase 2A implementation in July 2006 and taking into account the market comments received.

HKEx wishes to thank all Exchange Participants as well as other market participants who were involved in the implementation of the spread reduction project. HKEx will continue to review its trading environment and endeavour to enhance the efficiency and liquidity of its markets. -- www.hkex.com.hk