HONG KONG - Hong Kong Exchanges & Clearing Ltd., the world's largest exchange company by market value, said it has received regulatory approval to start after-hours futures trading and will begin the service on April 8.
Hang Seng Index and H-shares Index futures will be available for trading from 5 p.m. to 11 p.m. from the date, in addition to regular hours, the bourse said in a statement, Bloomberg reported.
Gold futures will also be considered for inclusion at a later stage, it said.
The extended hours will help attract more European and U.S. investors to the city's derivatives market, and it will also allow market participants to hedge and adjust positions when news breaks in European and U.S. hours, according to the statement.
Hong Kong Exchanges owns the London Metal Exchange.
Representatives from the Hong Kong Securities & Futures Professionals Association, the Hong Kong Securities Professionals Association and the Hong Kong Securities &
Futures Employees Union spoke in opposition to after-hours futures trading at a Hong Kong Legislative Council financial affairs meeting on Jan. 28.
Representatives from the industry associations said it could adversely impact financial stability and add to market volatility.