Summary: On June 23, 2025, the SFC reminded intermediaries about HKEX's emergency trading system recovery rehearsal on July 19, 2025. This rehearsal includes BCAN-CID mapping and BCAN tagging processes. RRIs are encouraged to participate, while EPs must submit participation and evaluation forms. Contact details for queries are provided, and further information is available from SEHK's circular. The SFC also updated regulations and requirements for RRIs and institutions regarding the HKIDR rules.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On June 23, 2025, the Securities and Futures Commission ("SFC") reminded intermediaries through a circular that Hong Kong Exchanges and Clearing Limited ("HKEX") will conduct an annual rehearsal for emergency trading system recovery in the securities market. The rehearsal is scheduled from 11:00 am to 3:10 pm on July 19, 2025 (Saturday).
The rehearsal will focus on the processes involving the submission of the BCAN-CID Mapping File and Reporting Forms to the Stock Exchange of Hong Kong Limited ("SEHK") data repository for all Relevant Regulated Intermediaries ("RRIs"). Additionally, it will include BCAN tagging for order submission to SEHK’s trading system for Exchange Participants ("EPs").
All RRIs are encouraged to participate in the rehearsal to become acquainted with contingency procedures and related operational matters in case of a service outage on SEHK’s trading system.
Only Exchange Participants are required to submit the Notification Form for Participation in the 2025 Market Rehearsal prior to the rehearsal and the Rehearsal Evaluation Reply Form upon completion of the rehearsal. Non-EP RRIs are not required to enroll.
During the rehearsal, if any queries or irregularities arise, intermediaries should contact HKEX via the provided hotlines or email: General enquiries (Hotline: 2840 3626; Email:
For detailed information, please refer to SEHK’s Circular dated June 23, 2025.
On June 23, 2025, the Securities and Futures Commission ("SFC") released an update to their regulations and requirements for corporations and institutions. According to the document, Relevant Regulated Intermediaries ("RRIs"), which are SFC-licensed corporations and SFC-registered institutions subject to the HKIDR rules (as outlined in paragraph 5.6 of the SFC’s Code of Conduct), were addressed. The document was last updated on the same date.
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