On June 23, 2026, the SFC announced a third optional market rehearsal for HKEX’s backbone network upgrade on 11 July 2026, requiring registration from Exchange Participant RRIs by 7 July 2026.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On June 23, 2026, the Securities and Futures Commission ("SFC") issued an update referencing the SFC circular dated 19 May 2026 regarding Hong Kong Exchanges and Clearing Limited ("HKEX") market rehearsals ("MRs") for its backbone network upgrade for securities market systems.
# Third Optional Market Rehearsal
A third optional MR will be conducted on 11 July 2026 (Saturday) to verify the system failover process over the enhanced HKEX backbone network for securities market systems as a final validation of connectivity.
All Relevant Regulated Intermediaries ("RRIs") which use the Secure File Transfer Protocol ("SFTP") channel to submit the BCAN-CID Mapping File and Reporting Forms to the Stock Exchange of Hong Kong Limited’s data repository, as required under the Hong Kong Investor Identification Regime, are strongly encouraged to participate in the third MR to ensure operational readiness and facilitate a seamless transition.
# Registration Requirements
For the avoidance of doubt, only RRIs which are Exchange Participants ("EPs") should submit the registration form via HKEX’s Electronic Communication Platform by 7 July 2026 (Tuesday). No enrolment will be required for non-EP RRIs.
# RRIs
Refer to SFC-licensed corporations and SFC-registered institutions which are subject to the Hong Kong Investor Identification Regime pursuant to paragraph 5.6 of the SFC’s Code of Conduct for Persons Licensed by or Registered with the SFC.
# Further Guidance
RRIs are advised to refer to HKEX’s circular dated 23 June 2026 for further information and guidance, and remain alert to subsequent communications from both the SFC and HKEX regarding this initiative.
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