General enquiries of Dual Tranche, Dual Counter Model

You may find the general enquiries of Dual Tranche, Dual Counter Model here.

What is Dual Tranche, Dual Counter (DTDC) Model?

The DTDC model allows offering and listing of two tranches of shares by the same issuer in different trading currencies (i.e. HKD and CNY). Both of the tranches, under the same class, will be traded on the Hong Kong Stock Exchange in HKD and RMB counters respectively. A stockholder who holds shares in one counter can transfer the shares to another counter.

Under the DTDC mechanism, how do I distinguish between the two counters of shares of the same company? Is there any difference between their stock codes?

The HKD counter shares use a 5-digit stock code starting with "0".

The RMB counter shares use a 5-digit stock code starting with "8".

The last four digits of the two stock codes will be the same.

What do I need in order to trade DTDC stocks?

You are required to have a packaged account, a securities account and a Renminbi savings account. Please note that no relevant trading order will be processed if there is an insufficient amount of CNY in the Renminbi savings account.

If I am holding HKD counter shares, when can I sell them in the RMB counter?

You can sell them in the RMB counter at any time, without having to wait for days to transfer the shares to the other counter beforehand.

Can I buy HKD counter shares and then sell them in the RMB counter immediately?

Yes, after you have purchased the HKD counter shares, you can sell them in the RMB counter immediately.

How can I conduct cross-counter trading of shares?

You can perform the transaction either through our manned channel or automated channels. Please make yourself ready with the relevant stock codes and choose the currency to settle the transaction.

Can I buy RMB-traded shares using HKD funds?

No, you have to do an FX transfer to your Renminbi savings account first before purchasing RMB shares.

What are the charges for transferring HKD-traded shares to RMB-traded shares or vice versa?

HKD30 for each counter transfer.

Will the daily exchange limit for RMB still apply to DTDC?

The daily exchange limit of CNY20,000 will not apply to DTDC.

In which currency will I receive dividends?

It depends on the dividend policy of the issuer.

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