Circular to intermediaries HKEX’s annual rehearsal for trading system recovery

The Securities and Futures Commission (SFC) has published a circular to inform intermediaries of the „annual rehearsal for trading system recovery“ of the Hong Kong Exchanges and Clearing Limited (HKEX).
Specifically, the rehearsal is scheduled for August 19, 2023, 11:00 a.m. to 3:10 p.m. and will cover two processes related to the Hong Kong investor identification regime (HKIDR), namely (as quoted)
1. the submission of the BCAN-CID Mapping File and Reporting Forms to HKEX’s data repository (applicable to all Relevant Regulated Intermediaries (RRIs)); and/or
2. BCAN tagging for order submission to HKEX’s trading system (applicable to RRIs who are Exchange Participants (EPs) only).
According to the SFC, all intermediaries subject to the HKIDR are encouraged to participate in the rehearsal to familiarize themselves with the contingency procedures and operational aspects related to a simulated service outage on HKEX’s systems. Those intermediaries that are exchange participants (EPs) and that opt to participate in the rehearsal must submit this notification form on or before August 11, 2023 to the exchange. Following the rehearsal, such firms must also submit a corresponding evaluation form. Non-EPs do not have to file any form for participation.
For any inquiries or questions, RRIs can contact the HKEX at 2840 3626 or through the email address trd@hkex.com.hk.
Further details about the rehearsal and related procedures can be found in the HKEX’s Circular dated July 28, 2023 which provides comprehensive information about the rehearsal process and related guidelines.