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  • Conditions for trading

    • MIR-4.19.20

      The transactions carried out under a market making agreement must not impair the orderly functioning of the market.

      Added: January 2019

    • MIR-4.19.21

      Trades executed within the framework of market making agreement must not create artificial change in the securities price with respect to the market trend, or hamper the market's normal operations, or mislead other market participants.

      Added: January 2019

    • MIR-4.19.22

      In the course of discharging its obligation to provide liquidity, the market maker must trade in the official secondary market of the licensed exchange or licensed market operator and in accordance with the trading rules.

      Added: January 2019

    • MIR-4.19.23

      Where a licensed exchange or licensed market operator allows for participation of market maker during pre-opening period, a market maker must ensure that its order during the pre-opening period does not have a material influence on the securities price.

      Added: January 2019

    • MIR-4.19.24

      The market maker and the issuer must at all times comply with the CBB law, rules and regulations on insider trading.

      Added: January 2019

    • MIR-4.19.25

      Securities purchased or made available to the market maker by the issuer cannot be allocated for other purposes before the completion of the market making activity set forth in the market making agreement.

      Added: January 2019

    • MIR-4.19.26

      The issuer must not engage, directly or indirectly, in any other trades in its own security while the market making agreement is in force except for such transactions where the issuer has obtained necessary approvals from the CBB.

      Added: January 2019

    • MIR-4.19.27

      For the purposes of MIR-4.19.26, market making activity must remain suspended in the following cases:

      (a) From the date of the announcement of a takeover bid for the issuer's shares, up until the end of offer period; and
      (b) During share repurchase programmes.
      Added: January 2019

    • MIR-4.19.28

      The issuer and/or the market maker must comply with all other modules in Volume 6.

      Added: January 2019

    • MIR-4.19.29

      Market makers failing to comply with the requirements of Section MIR-4.19 are subject to enforcement measures as outlined in Module MIE (Market Surveillance, Investigation and Enforcement).

      Added: January 2019