News Column

Trading levy reduction proposed

June 6, 2014

The Securities & Futures (Levy) (Amendment) Order 2014 was gazetted today, seeking a 10% levy reduction on securities, and futures and options contracts, trading.

The reduction will benefit the general investing public and the financial industry, the Financial Services & the Treasury Bureau said, adding it would reduce the transaction cost to the market by about $105 million a year.

Under the order, the levy a securities transaction buyer or seller will pay will fall from 0.003% to 0.0027%, while that for a futures contract transaction will fall from $0.6 to $0.54.

The levy payable for a transaction for a Mini-Hang Seng Index Futures Contract, a Mini-Hang Seng Index Options Contract, a Mini-Hang Seng China Enterprises Index Futures Contract, a stock futures contract or an option for such a contract will fall from $0.12 to $0.108.

The order will be tabled in the Legislative Council for negative vetting on June 11, and would take effect from November 1.


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Source: M2 PressWIRE

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