港交所:本周将跟券商会晤,讨论缩短IPO结算周期
来源:瑞恩资本RyanbenCapital
外电昨日引消息报道,香港交易所本周将会晤证券界,讨论缩短现时新股由招股到定价长达5日的「T+5」周期。
消息指出,若进展顺利,港交所将在未来数周推出咨询。消息人士续指出,港交所正考虑建立电子平台以缩短结算周期,亦希望未来能实现新股支付全面电子化,一方面可加快向未中签人士退款,另一方面可避免散户透过多个券商认购,重复抽新股。
知情人士称,如果与会者没有重大异议,则于未来数周咨询市场。据说港交所希望在今年底前缩短新股定价结算周期,与纽约等竞争对看齐。
目前香港新股上市由定价到挂牌平均需时6天,但美国相同程序只需1天。
港交所去年已提出研究缩短新股结算周期,当时有指该所已开始向个别大型券商及其他持份者「摸底」。今年2月,港交所行政总裁李小加表示,缩短新股结算周期正在密锣紧鼓地进行相关工作,但须综合考虑包括技术、机制基本结构和逻辑,以及散户交易前预先付款的问题。
新股结算周期的建议新运作模式,冀将定价至挂牌日所需时间,由目前的5天(T+5)缩短至1天(T+1),并让散户和机构投资者一样,不用过早锁定资金,由银行及券商等向散户给予信用代替。
将对券商造成不小影响
香港证券业协会主席徐联安表示,预计本周业界将与港交所讨论,将是证券业首次与交易所就IPO缩短定价周期事宜会面。他表示,协会暂未收到咨询资料,但将会关注券商收益影响,新制如何便利用家,以及会否对新股市场带来额外风险等各个方面。
新股招股到定价用时缩短,意味券商借出孖展计息期也将一并缩短,对此徐联安表示,此事宜将是会面讨论重点之一。他表示,新股孖展为券商重要收入来源,假设计息期由6日缩短至2日,每年近300只新股,将对券商造成不小影响。
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