Aristo

A unique collaboration between the Hong Kong, Shanghai and Shenzhen Stock Exchanges, Stock Connect allows international and Mainland Chinese investors to trade securities in each other's markets through the trading and clearing facilities of their home exchange.

Aristo provides Shanghai Stock Connect A-shares and Shenzhen Stock Connect A-share trading services. Clients can place Stock Connect orders through online trading platform or Aristo Trader.

Trading is conducted on Monday to Friday (excluding non-Northbound Trading days) at the following times:

	SSE/SZSE Trading Hours	Time for EPs to input Northbound orders (1)
Opening Call Auction	9:15 a.m. - 9:25 a.m.	9:10 a.m. - 11:30 a.m.
Continuous Auction (Morning)	9:30 a.m. - 11:30 a.m.	9:10 a.m. - 11:30 a.m.
Continuous Auction (Afternoon)	1:00 p.m. - 2:57 p.m.	12:55 p.m. - 3:00 p.m.
Closing Call Auction	2:57 p.m. - 3:00 p.m.	12:55 p.m. - 3:00 p.m.

Note (1):

Time Period	Remarks
9:20 a.m. - 9:25 a.m.	SSE/SZSE will not accept order cancellation
2:57 p.m. - 3:00 p.m.	SSE/SZSE will not accept order cancellation
9:10 a.m. - 9:15 a.m. 9:25 a.m. - 9:30 a.m. 12:55 p.m. - 1:00 p.m.	Orders and order cancellations can be accepted by SEHK but will not be processed by SSE/SZSE until SSE’s and SZSE's market open
Orders that are not executed during the opening call auction session will automatically enter the continuous auction session.

Trading under Shanghai and Shenzhen Connect will be subject to the Northbound daily quota.

Northbound daily quota is set at RMB 52 billion for each of Shanghai Connect and Shenzhen Connect, Daily Quota Balance will be updated on the HKEX website (https://www.hkex.com.hk) every minute.

Daily Quota Balance = Daily Quota – Buy Orders + Sell Trades + Adjustments

The Daily Quota is applied on a “net buy” basis.
Investors are always allowed to sell their cross-boundary securities regardless of the quota balance.
The Daily Quota will be reset every day. Unused Daily Quota will NOT be carried over to next day’s Daily Quota.
If the Northbound Daily Quota Balance drops to zero or the Daily Quota is exceeded during the opening call auction session, new buy orders will be rejected.
Once the Northbound Daily Quota Balance drops to zero or the Daily Quota is exceeded during a continuous auction session, no further buy orders will be accepted for the remainder of the day.
Buy orders already accepted will not be affected by the Daily Quota being used up and will remain on the order book of SSE and SZSE respectively unless otherwise cancelled by relevant SEHK Participants.

For more details on the stock connect, please refer to HKEX website

( https://www.hkex.com.hk/Mutual-Market/Stock-Connect?sc_lang=en )

The settlement cycle of the Stock Connect trades are as follows:

Stock Settlement	Trade day (T)
Fund Settlement	T+1

Please note that the settlement date of Stock Connect is a business day both in the Mainland and in Hong Kong.

For the trading calendar of Stock Connect, please refer to HKEX website.