Shenzhen Stock Exchange, Block Trade Implementing Rules

Issued: February 25 2002
Effective: as of date of issue
Interpreting authority: Shenzhen Stock Exchange
Applicability: Block trades apply to the trading of A shares, fund shares and bonds (other than bond repurchase) on the Shenzhen Stock Exchange (Article 2).

Main contents: Block trades shall be input into the trading system through the same securities dealer by 14:55 on a trading day upon agreement on price and quantity between the buyer and the seller (Article 3). The minimum quantity of each block trade shall be 500,000 shares in the case of A shares or fund shares or 5,000 board lots in the case of bonds, as may be changed by the exchange from time to time according to market conditions (Article 4). Block trades are irrevocable once accepted through the trading system (Article 7). The exchange shall disclose the information of each block trade, including the name of the securities, the quantity of the trade, the execution price, the name of the securities dealer and the names of the buyer and the seller (Article 9). The execution prices of block trades will not be included in the calculation of real time quotations and indexes (Article 11). The exchange shall designate special organs and personnel to monitor and administer the reporting, confirmation and disclosure of block trades (Article 12).
Related legislation: Trading Rules of Shanghai and Shenzhen Stock Exchanges, Aug 31 2001, CLP 2001 No.8 p8