HKEx opens up ETP market to non-securities market makers

Hong Kong Exchanges and Clearing Limited (HKEx) has enhanced the Designated Specialist (DS) programme for its exchange traded products (ETPs), which include exchange traded funds (ETFs) and leveraged and inverse (L&I) products, to allow global liquidity providers that are not its securities market makers (SMMs) to participate in ETP market making activities. The move is aimed at opening up ‘with expanded eligibility criteria and a more flexible structure’ new