In accordance with the Chapter 571Y Securities and Futures (Contracts Limits and Reportable Positions) Rules, no person, other than the person authorized, may hold or control futures contracts or stock options contracts in excess of the prescribed limit. Section 6 of the Rules stipulates that any person who holds or controls a reportable position shall lodge a notice in writing of that reportable position with the recognized exchange company concerned.

Victory Securities, as your agent, submits a notice of a reportable position to the Exchange. In the event that you hold or control a reportable position in accounts at more than one Exchange Participant, you should assume the sole responsibility to notify the Exchange of the reportable position. In the event that you hold open positions in Holiday Trading Exchange Contracts (“H-Contracts”) in excess of a LOP and submits the LOP report to HKFE directly (instead of via Victory Securities) shall be subjected to the LOP reporting procedures on H-Contracts.

For details of the "Position Limits and Large Open Positions Reporting Requirements", please visit the following webpages:

SFC -Guidance Note on Position Limits and Large Open Position Reporting Requirements

HKEX - Large Open Positions and Position Limits

HKEX - Introduction of New Large Open Position (“LOP”) Reporting Procedures for Derivatives Holiday Trading

The above information is provided for reference only and does not constitute any legal advice. If in doubt, please seek professional legal advice.