Investor Identification Regime at Trading Level for the Securities Market in Hong
Kong (HKIDR)
Frequently Asked Questions on Broker-to-Client Assigned Number (BCAN)
Submission and Order Tagging Related Topics（Version Date：17 March 2023）
These FAQs are published by The Stock Exchange of Hong Kong Limited (Exchange or SEHK) for the purposeof addressing some frequently asked questions from market participants relating to the investor
identification regime at trading level for the securities market in Hong Kong (Hong Kong Investor
Identification Regime or HKIDR). These FAQs should be read in conjunction with the Rules of the Exchange,
the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission(Code of Conduct), and the Frequently Asked Questions on HKIDR published by the Securities and Futures
Commission (SFC). If there are any conflicts between these FAQs, the Code of Conduct, the SFC FAQs andany other guidance published by the SFC relating to the HKIDR (SFC Guidance), the requirements as
described in the Code of Conduct and the SFC Guidance shall prevail.

A. Submission of BCAN-CID Mapping File via ECP
1. When should a Relevant Regulated Intermediaries (RRI) 1 submit the Client
Identification Data (CID)? (26 November 2021)
A RRI which assigns the BCAN 2 to the Relevant Client 3 should also be the RRI whichcollects the CID from that client. After collection of the CID, the RRI should put the CID
and BCAN information of the client into a file, namely “BCAN-CID Mapping File”, andsubmit to SEHK via the Electronic Communication Platform (ECP) before the prescribed
cut-off time of 4:30pm on the day before the trading day (T-1 day).

1

A Relevant Regulated Intermediary, under the HKIDR, refers to a licensed corporation or a registered institution
which (i) submits (or arranges to submit) for execution an on-exchange order; (ii) carries out an off-exchangeorder; or (iii) reports an off-exchange trade directly as an exchange participant to SEHK according to its rules, inconnection with: (i) carrying out proprietary trading; or (ii) providing securities brokerage services for anotherperson in respect of orders placed through an account opened and maintained for that person.
2

BCAN refers to a “Broker-to-Client Assigned Number”, being a unique identification code in the format prescribedby SEHK, generated by a Relevant Regulated Intermediary in accordance with SEHK’s requirements.
3

Relevant Client refers to a party which has placed or proposes to place a securities order through a securities
trading account with a Relevant Regulated Intermediary. Where the order is a proprietary trade, the Relevant
Client would refer to a Relevant Regulated Intermediary placing the order for itself. Where an order is routed
through an intermediating chain of brokers, a Relevant Client would be the first person in the chain who is not a
Relevant Regulated Intermediary.

2. Under what circumstances is the BCAN-CID Mapping File not required to be submitted
on or before T-1 day? (26 November 2021)
For new clients to trade on the day of account opening or clients whose accounts haveremained dormant 4 to trade on the day when their dormant accounts become reactivated (i.e. the day of entering into a trade), their BCAN-CID Mapping files are allowed
to be submitted either before or after the order is submitted, but in any event by 4:30pm
on a trading day (T day).
3. What are the submission channels of the BCAN-CID Mapping File for a RRI? (Updated on
3 August 2022)
1. RRIs which are EPs can submit the BCAN-CID Mapping File to SEHK via ECP (secure filetransfer protocol, SFTP) or through ECP Web Interface by using SEHK assigned login
identity (ID) and password, or the ID and password for the SFC’s WINGS (WebIntegrated Service) platform.
2. Non-EP RRIs can submit the BCAN-CID Mapping File to SEHK via ECP (SFTP) or through
ECP Web Interface by using the ID and password for the SFC’s WINGS platform. In casenon-EP RRIs prefer to submit BCAN-CID Mapping Files via ECP (SFTP), they are
required to install SDNet/2 circuits.
3. The BCAN-CID Mapping File can also be submitted by a third party (i.e. On Behalf of(OBO) submission) via the ECP (SFTP) or ECP Web Interface. The submitter must be
authorized and/or delegated by the relevant EPs/non-EP RRIs.
Please refer to the HKIDR File Transfer Connectivity Guide for details.
4. What happens if a client opens an account on T day and trade on the same day, and theBCAN-CID Mapping File is submitted at 4:15pm but a BCAN record has formatting error,
and the revised BCAN Mapping File cannot be resubmitted again by 4:30pm? (26November 2021)
Such BCAN record will not be recorded by SEHK and will not be shown in the BCAN Full
Image File. Without prejudice to any regulatory actions that may be taken against therelevant RRI for potential non-compliance with the relevant requirements, it should
submit the correct BCAN Mapping File again on next day as soon as possible.

4

Dormant accounts refer to those which have been inactive for 24 months since last trade (irrespective of accountbalance or movement).

5. How frequent should a RRI submit a BCAN-CID Mapping File? (26 November 2021)
RRI is required to submit the mapping file whenever there are any changes to the BCANCID mapping data. For the avoidance of doubt, a full list of mappings of all Relevant Clients’
BCANs and CID is always required to be submitted even if only part of those mappings
have been changed (e.g. only a few clients have updated their CID or have opened new
accounts or have closed existing accounts).

6. What happens if a RRI does not submit the BCAN-CID Mapping File to SEHK during thesubmission hour? (26 November 2021)
The mapping records that SEHK previously accepted will remain effective. No BCAN-CID
Response File will be given.
7. What is the arrangement for submission of BCAN-CID Mapping Files on T-1 day under
severe weather conditions? (Updated on 3 August 2022)
The ECP Web Interface and ECP (SFTP) Interface will be opened for BCAN-CID Mapping
File submission from 7:00am to 4:30pm on each trading day for the Hong Kong securities
market, even under severe weather conditions. For the avoidance of doubt, the fileprocessing behavior (e.g. the return of BCAN-CID Response File / Process Result File / Full
Image File) in such case will be the same as normal trading days.
8. Is the SFTP facility for Northbound trading under Stock Connect the same as the ECP(SFTP) Interface for HKIDR? (Updated on 3 Aug 2022)
Under HKIDR, a new and different SFTP facility is used, which must be initiated from anEP’s or non-EP RRI’s registered Internet Protocol (IP address).
9. After submitting the BCAN-CID Mapping File, when will a RRI receive various BCAN-CID
interface files? ( Updated on 3 August 2022)
The available time of various BCAN-CID interface files are summarized as follows:
No

Time

Party

Activity1

7:00am - 4:30pm

Exchange
Participant(EP)/non-EP
RRIa) Submission of BCAN-CID Mapping File (HBCNMAPP).

HKEXb) Distribution of BCAN-CID Response File (HBCNMPRP).
(normally within 10 minutes after submitting BCAN-CID MappingFile)
2

6:00pm -11:59pm

HKEXa) Distribution of BCAN Process Result File (HBCNRSLT).
(after 6:00pm on Hong Kong Securities Market trading days)b) Distribution of BCAN Full Image File as recorded in HKEX(HBCNFIMG).
(after 6:00pm on Hong Kong Securities Market trading days)

3

12:00am on thenext calendar day

HKEXa) System cleanup – all files will be removed from ECP.

10. Is multiple accounts allowed for each business lines of the same RRI in ECP? (Updated
on 3 August 2022)
As mentioned in the Information Paper (paragraph 23(v)), the ECP will not provide
different accounts for different divisions within a RRI to submit multiple BCAN-CID
Mapping Files. For the avoidance of doubt, the login credential follows the current
settings at ECP / the SFC’s WINGS and no additional accounts will be provided. In suchcase, the RRI should arrange to consolidate BCAN and CID mapping data received fromthe different divisions into a single BCAN-CID Mapping File before submission.
It should also be noted that if multiple BCAN-CID Mapping Files are submitted within aday, the last one processed by SEHK before the prescribed cutoff time will be taken as the
final record and will overwrite the preceding ones.

B. Preparation of BCAN-CID Mapping File
1. If a Relevant Client of a RRI is a trust, who’s CID should be collected? And in case thetrustee of the trust concerned is (i) an individual trustee or (ii) a group of individual
trustees or (iii) a corporate trustee, which “Client Type” should be input in the BCANCID Mapping File? (Updated on 3 August 2022)
If a Relevant Client of a RRI is a trust, the CID of the trustee(s) should be collected.
However, in the case of a trust which is an investment fund, whether CID of the asset
management company or the individual fund should be obtained depends on which entity
is the account holder of the securities trading account through which an order is placed.
In case the trustee of the trust is an individual trustee, the “Client Type” value of “1” (sameas that for an individual) should be used. In case the trustee consists of a group ofindividual trustees, the “Client Type” value of “2” (same as that for a Joint Account) should
be used. In case the trustee of the trust is a corporate trustee, the “Client Type” value of“6” (representing “Legal entity – Others”) should be used.
2. Can the “Client Type” value be changed in the BCAN-CID Mapping File once registered?
If so, how to change it? (26 November 2021)
Under the HKIDR, “Client Type” value is allowed to be updated if necessary. A RRI can
update it in the BCAN-CID Mapping File and submit the file to SEHK.
3. What should a RRI do if it ceases trading? (26 November 2021)
If an EP/non-EP RRI ceases trading, they should submit an “empty” mapping file with no
BCAN and CID data (i.e. mapping file with header and control records only). The system
will then mark the BCAN-CID mapping records that were submitted previously as“Inactive”.
4. Can I provide the first 4 characters of the identity document number in the BCAN-CID
Mapping File only? (26 November 2021)
Exact identity document number should be provided - including characters, numbers, andsymbols like brackets. For example, if the identity document number on the official
document is “A123456(7)”, then “A123456(7)”(including brackets) should be provided in
the BCAN-CID Mapping File.

5. Can an entity consolidate all of the BCAN and CID information of its affiliates and submit
one BCAN-CID Mapping File to SEHK? (Updated on 3 August 2022)
No, a RRI should only submit the BCAN-CID mappings of its Relevant Clients (i.e. a BCANCID Mapping File should not contain BCAN-CID mappings of Relevant Clients of another
RRI).
However, BCAN-CID Mapping File can also be submitted by a third party (i.e. On Behalf of(OBO) submission) who is authorized and/or delegated by the relevant EPs/non-EP RRIs
through the ID and password assigned for the SFC’s WINGS platform.
6. If I am uploading on behalf of my affiliate as well (authorization and delegation
obtained), should I upload two different sets of BCAN-CID Mapping Files to SEHK or
combine BCAN and CID mapping of all customers of our affiliates to a single file before
uploading? (28 January 2022)
In such case two different BCAN-CID Mapping Files should be submitted, i.e. one BCANCID Mapping File for each RRI. Each BCAN-CID Mapping File should not contain BCAN-CID
mappings of Relevant Clients of another RRI.
7. Is it acceptable to use the BCAN assigned for the Northbound (NB) Investor ID regime
for the HKIDR? And if yes, how can I reuse it? (28 January 2022)
The HKIDR and the NB Investor ID Regime which was launched on 26 September 2018
under Stock Connect are expected to work independently.
For those EPs who are registered as China Connect Exchange Participants or EPs trading
through a China Connect Exchange Participant, they may assign the same or different
BCAN (i.e. the randomly assigned number not exceeding 10 digits) to a client under bothregimes. If a RRI wish to reuse the NB BCAN for the HKIDR, please add the SFC’s CE numberof the RRI assigning the BCAN, followed by a dot in front of the NB BCAN, i.e. if the NB
BCAN is 1234567890, the BCAN under HKIDR will be ABC123.1234567890 (where ABC123
is the SFC’s CE number of the RRI).

8. Must the client’s name in the BCAN-CID Mapping File be the same as in the official
identity document? (28 January 2022)
The Chinese and English names in the BCAN-CID mapping data submitted must be exactly
the same as in the official identity document. For example, if the name in the official
identity document is in Simplified Chinese, then the name in the BCAN-CID mapping data
must also be in Simplified Chinese. In case the name in the national identification

document is not in Chinese or English, the guidance issued by the SFC as contained in therelevant FAQ should be referred to.

9. Are there any templates provided for the BCAN-CID Mapping File and the five reporting
forms5? (3 August 2022)
Please refer to File Interface Specification Section 2.4 for detailed specifications of theBCAN-CID Mapping File.
While a template will not be provided for the BCAN-CID Mapping File, the templates ofthe five reporting forms are provided on the HKIDR web corner. Please refer to Section 3of the File Interface Specification for detailed specifications of the five reporting forms.

10. Can a corporate client of a RRI be assigned with more than one “client types” in the
BCAN-CID Mapping File (e.g. the corporate client has setup more than one accounts at
the RRI for different business activities)? (3 August 2022)
In a case where a corporate client has two or more accounts opened with a RRI, the RRI
may choose to assign a single BCAN to that corporate clients or to assign multiple BCANs
to that client to distinguish between orders placed through different accounts. In casemultiple BCANs are assigned to a client, different client types can be assigned to each ofthese BCANs based on the business activities engaged by the client for a certain
account. In case a single BCAN is assigned to the client, only one client type can be
assigned to the BCAN of the corporate client.
However, it should be noted that the client type “5 – Proprietary Trading” should only be
used by a RRI for its own (and not its clients’ nor affiliates’) proprietary trading account.

11. If a corporate client of a RRI has an account with that RRI for proprietary trading
purposes, what “client type” should be assigned for this client in the BCAN-CID
Mapping File? (3 August 2022)
The client type for proprietary trading of a RRI’s client should be “6 – Legal entity –Others”. It should also be noted that the client type “5 – Proprietary Trading” should
only be used by a RRI for its own (and not its clients’ nor affiliates’) proprietary trading
account.

5

Reporting forms refer to the Aggregated Transaction Report, BCAN Change Report, BCAN Change for LP Quote
Report, BCAN Error Report and Off-Exchange Trade BCAN (Buy-side) Report.

C. Preparation and submission of reporting forms
1. There are a number of reporting forms under HKIDR, what are the responsible parties
to submit each reporting form? (Updated on 17 March 2023)
Please see below for the corresponding parties to submit each type of reporting forms.
ReportingForms

PurposeECP Submission

Party to submit

Validation by HKEX

AggregatedTransaction
ReportFor reporting theunderlying allocation
and BCANs ofmatched aggregatedorders andaggregated offexchange tradesvia (1) web interface,(2) web interface
through the SFC’s
WINGS or (3) SFTP

RRIs (EPs or non-EPs)
who aggregate theorder should submit
or arrange to submit

Response Filefor format
validation will
be returned
shortly after
submission

BCAN Change
ReportFor reporting the reassignment of BCAN
(i.e. changing theassigned BCAN of a
Relevant Client toanother unassigned
BCAN in exceptional
cases)

via (1) web interface,(2) web interface
through the SFC’s
WINGS or (3) SFTP

RRIs who submit theBCAN-CID mapping
file

BCAN Error
ReportFor lodging correctionof BCANs of matchedordersandoffexchange tradesvia (1) web interfaceor (2) SFTP

EPs who input therelevant order / offexchange trade in
OTP-C

Off-exchange
Trade BCAN
(Buy-side)
ReportFor reporting the buyside BCAN of an offexchange trade if such
BCAN is not tagged totheoff-exchange
trade before day-end
market close

via (1) web interfaceor (2) SFTP

Buying EPs of the offexchange trade (i.e.
manual trade) who
fail to input the buyside BCAN in OTP-C

BCAN Change
for LP Quote
ReportFor providing thereason of changing
the BCAN tagged to a
Liquidity Provider (LP)
quote

via (1) web interfaceor (2) SFTP

EP (who is a LP) whochanges the BCAN of
LP quote

Report Result
File will be
returned by 8:00
am on next
calendar day
under normal
circumstances

Please refer to the HKIDR File Transfer Connectivity Guide for details.
2. How to report tagging error relating to CE number on a transaction? (28 January 2022)
EPs can report tagging error relating to CE number by submission of a BCAN Error Report.

3. If an off-exchange trade on a non-CAS security is concluded around 15:55, and theselling EP input the off-exchange trade at 15:59, while the buying EP is only alerted of
the trade after 16:00, what should the buying EP do? (28 January 2022)
As mentioned in the Information Paper (paragraph 30), in case the buying EP fails to insert
the BCAN before market close, the buying EP needs to submit the Off-exchange Trade
BCAN (Buy-side) Report to SEHK via the ECP to list out all off-exchange trades without
buy-side BCANs tagged and to provide the relevant BCANs for each of the off-exchange
trades.

4. In the case of off-exchange trade, since there is a 30-minute window for the purchasingside to submit the BCAN. Will the exchange accept the message after market close but
within the 30 minutes? (28 January 2022)
A buying EP cannot input the buy-side BCAN after the market close. In case a buying EP
fails to input buy-side BCAN before the market close, the relevant buying EP is required
to submit an Off-Exchange Trade BCAN (Buy-side) Report to SEHK via ECP to report backthe buy-side BCAN.

5. What are the 2 levels of validation mentioned in the File Interface Specification (i.e. 1st& 2nd level validations respectively) for the five reporting forms mentioned in Question
C-1? (Updated on 3 August 2022)
The 2 levels of validation mentioned in the File Interface Specification are:1st level validation: The validation checks against the filename format and performing ofvirus scan. An acknowledgment or rejection file will be returned for a file being acceptedor rejected respectively, please refer to the File Interface Specification Appendix I for
details.
2nd level validation: Once the file is accepted by the 1st level validation, further validation
will be conducted to check against the basic file format. A response file will be returned
as per described in File Interface Specification Appendix III C1.
Records passing the 2nd level validation in the last submitted reporting form before thecut-off time will be further processed by HKEX’s system. Passed and failed records after
further processing will be returned in a Result File on the next day as further described inFile Interface Specification Appendix III C2.

6. According to the Information Paper, a BCAN that is assigned to a client can be amended
to another unassigned BCAN in exception cases (e.g. due to system upgrade). In suchcase should a RRI submit the BCAN Change Report before or after the BCAN reassignment become effective? (28 January 2022)
In such case, a new BCAN that is updated in a BCAN-CID Mapping File and submitted to
SEHK on T-1 day will become effective on T day. The RRI should ensure the new BCAN is
used and tagged on orders submitted on T day. The RRI should also submit the BCAN
Change Report on the day after the effective date of the BCAN re-assignment (i.e. submit
the report on T+1 day) to notify SEHK with reasons of the BCAN re-assignment.
7. In the case of a trade where the trade quantity is erroneous, should the RRI submit a
BCAN Error Report if some of transacted shares are “re-allocated” to the RRI’s houseaccount for error handling? (17 March 2023)
Please note that BCAN Error Report is for an executed order where an incorrect BCAN wastagged to the relevant order at the time the order was placed. For trade errors that are
not related to BCAN tagging error (e.g. incorrect traded quantity), they should be reported
per existing arrangement via submission of Reporting of Trading Discrepancy/Error Form.

D. Tagging of BCAN and OTP-C validations
1. What should a RRI do if an incorrect BCAN is tagged to an order? (26 November 2021)
If such an order has not been executed yet, the RRI (except for Liquidity Providers (LPs))
should cancel and re-input the order with the correct BCAN as soon as possible. In thiscase the order will need to re-queue in the order queue and the order’s original priority
will be lost.
If the order has already been executed, the EP executing the order should submit a BCAN
Error Report with correct BCAN information to SEHK via the ECP by 6pm on a trading day.
For LPs, they may use the “quote update” function to update the BCAN in their quotes (ascurrently the case for updating other quote details). The LPs which have updated theBCAN should submit a BCAN Change for LP Quote Report to SEHK via the ECP by 6pm ona trading day.
2. Under HKIDR and with regards to BCAN tagging, under what circumstances will an order
be rejected by the OTP-C trading system? (26 November 2021)
SEHK will conduct real-time validation checks of whether a BCAN has been inputted withan order and whether the BCAN is inserted in the correct format. Where the prefix Central
Entity Number (CE number) and/ or BCAN is not provided or they are in an invalid format,
the relevant order being inputted into the OTP-C will be rejected. In contrast, onexchange order or off-exchange trade tagged with non-recorded BCAN (i.e. a BCAN not
contained in a submitted BCAN-CID Mapping File) will not be rejected by OTP-C. However,the RRI may be subject to follow-up enquiries and/or further actions from SEHK and the
SFC for potential non-compliance with the relevant requirements.

3. Will SEHK’s trading system reject an order tagged with a BCAN which is not containedin a submitted BCAN-CID Mapping File (i.e. non-recorded BCAN)? (26 November 2021)
SEHK’s trading system (OTP-C) will conduct real time validation checks of (1) whether a
BCAN has been inputted with an order and (2) whether the BCAN is inserted in the correct
format but OTP-C will not reject orders tagged with non-recorded BCAN. However, theRRI may be subject to follow-up enquiries and/or further actions from SEHK and the SFC
for potential non-compliance with the relevant requirements.

4. If no consent is obtained from individual Relevant Clients for the transfer of theirpersonal data to the SEHK and/or the SFC under the HKIDR, can a RRI still conduct
trading for its individual Relevant Clients? (Updated on 3 August 2022)
Unless the relevant consent as prescribed by the Consent Circular issued by the SFC on 13
September 2021 from the individual (i.e. natural person) Relevant Clients is obtained, RRIs
shall place sell orders only (and should tag the specific sell-only BCAN value of “1” to suchorders) for those clients.
5. If a client has an existing BCAN (already submitted to SEHK before) but we would liketo change its ID type and ID number, can we keep using the existing BCAN for trading?
Do we need to generate a new BCAN for submission? (28 January 2022)
In such case, the RRI should update the ID type and ID number in the BCAN-CID Mapping
File without changing the BCAN, and submit the updated file to SEHK as soon aspracticable after validating the updated CID.
6. Can I use the reserved BCAN value “1” in case the sell-only transaction is an offexchange trade? (28 January 2022)
BCAN value “1” is also applicable to off-exchange trade (i.e. manual trade).

7. For an off-exchange trade that is a direct business transaction (i.e. the same EP acting
for both the buyer and the seller), is the EP required to submit two ‘New Off Exchange
Trade (21)’ messages, one for the sale and one for the purchase? (3 August 2022)
For an off-exchange trade (i.e. manual trade) that is a direct business transaction, theinput procedure is same as today but the EP is required to tag both the sell-side and buyside BCANs to the message in one go when inputting the direct business transaction.

8. For an off-exchange trade, can the buying EP insert the BCAN during lunch hour (i.e.
from 12:00 to 13:00)? (3 August 2022)
The buying EP cannot insert the buy side BCAN during the lunch hour (i.e. from 12:00 to
13:00).

9. How should an EP tag BCAN for an off-exchange trade between an EP’s client and a nonEP counterparty? (3 August 2022)
In such a scenario, the buying EP or the selling EP (as the case may be) should report thisoff-exchange trade using the Trade Capture Report message for off-exchange trade of thetype of “Overseas” (where only one side of the transaction is an EP), and should tag thebuy-side or the sell-side BCAN (as the case may be) to the message when inputting thetransaction. For the avoidance of doubt, the EP concerned should report such offexchange trade (of the type of “Overseas”) within 15 minutes after conclusion of thetransaction.

E. Aggregated orders
1. How to tag the BCAN for aggregated orders and aggregated off-exchange trades? (26November 2021)
RRI should tag a specific reserved BCAN value (the number value “2”) to the aggregatedorder or aggregated off-exchange trade to be submitted to SEHK.
2. What is the subsequent reporting requirement for aggregated orders and aggregated
off-exchange trades? (Updated on 17 March 2023)
RRI who originated the aggregated order or aggregated off-exchange trade should submit
or arrange to submit the Aggregated Transaction Report via the ECP for aggregated ordersthat have been executed (fully or partially) and for aggregated off-exchange trades on or
before market close on three trading days after the trade date (T+3 day). The AggregatedTransaction Report should contain information concerning the underlying orders (i.e.
trade allocations) of an aggregated trade, including BCANs of the Relevant Clients,
quantity and price of the securities, etc. of the underlying orders.
For the avoidance of doubt, for aggregated orders that have not been executed, noreporting on the underlying orders (i.e. trade allocations) is required. For an aggregatedorder that has been partially executed, the RRI only needs to report on the underlying
trade allocations of the portion of the order that has been executed.
3. Is a RRI allowed to further combine two or more orders routed to it from other RRI(s)?
(Updated on 17 March 2023)
For on-exchange order, a RRI should not further combine two or more orders routed to it
from other RRI(s). It should ensure that such an order received from another RRI be
passed along the intermediating chain for an on-exchange order without any change tothe order, including the tagged BCAN.
For OE Trade Reporting (i.e. manual trade), a RRI may further combine two or more trades
routed to it from other RRI(s), please refer to SFC’s FAQ for more details.

4. Can the reserved BCAN value “2” be used on multiple orders coming from the sameclient? (3 August 2022)
No, multiple orders placed by the same client of a RRI will not constitute an “aggregatedorder” for the purpose of the HKIDR.

F. Technical questions (for IT Developers)
1. What does the value of “Trade ID (OTP-C)” in field 10 of the BCAN Error Report of the
HKIDR File Interface Specification refer to? (28 January 2022)
It refers to the Trade Match ID/ Trade ID of all kinds of trades, i.e. auto-matched trade,odd lot/ special lot trade, manual trade. Please refer to the following corresponding fields
in the HKEX OCG-C Binary/FIX Trading Interface Specification for details:
OCG-C Binary Trading Interface Specification
Auto-matched Trade
7.6.7.10 Trade (Board lot Order Executed) – “Trade Match ID”
Odd lot/Special lot Trade
7.6.7.12 Trade (Odd lot/Special lot Order Executed) – “Trade Match ID”
7.8.2.2 Trade (Odd Lot/Special Lot) Accepted – “Trade ID”
Manual Trade
7.8.2.1 Trade (Off Exchange) Accepted – “Trade ID”
OCG-C FIX Trading Interface Specification
Auto-matched Trade
7.7.7.8 Trade (Board lot Order Executed) – “Tag 880 TrdMatchID”
Odd lot/Special lot Trade
7.7.7.10 Trade (Odd lot/Special lot Order Executed) – “Tag 880 TrdMatchID”
7.9.3.2 Trade Accepted (AE) – Semi-automatic Odd lot/Special lot Trade – “Tag1003 TradeID”
Manual Trade
7.9.3.1 Trade Accepted (AE) – Off Exchange Trade – “Tag 1003 TradeID”

2. Are there any samples for the FIX Trade Capture Report (TCR) message with BCAN field
specified? (28 January 2022)
Below are some FIX TCR samples:
TCR Sample 1 –Submit Privately
Negotiated TradeTCR Sample 2 –Submit Overseas
Trade (Buy Side)TCR Sample 3 –Submit Internal
Cross Order Trade(a.k.a. Direct
Trade)TCR Sample 4 –Purchasing Side
Reports BCAN
Field to Exchange(TradeReportType=Addendum)
TCR Sample 5 –Submit Semiautomatic Odd
lot/Special lot
Trade

8=FIXT.1.1^9=327^35=AE^49=CO08201001^56=HKEXCO^34=1
2^52=20211229-09:29:47.018771^1128=9^571=4^487=0^85
6=0^828=22^1123=1^31=46.2^32=10000^60=20211229-09:2
9:47.018771^552=2^54=2^453=3^448=1111^447=D^452=1^4
48=100006^447=D^452=75^448=CE0001.50001^447=D^452=3^576=1^577=0^18=c x^528=A^58=Sample1^54=1^453=1^448=2222^447=D^452=17^48=5^22=8^207=XHKG^10=066^
8=FIXT.1.1^9=288^35=AE^49=CO08201001^56=HKEXCO^34=1
7^52=20211229-09:31:17.034405^1128=9^571=5^487=0^85
6=0^828=104^1123=6^31=46.2^32=10000^60=20211229-09:
31:17.034405^552=1^54=1^453=3^448=1111^447=D^452=1^
448=100006^447=D^452=75^448=CE0001.50001^447=D^452=
3^576=1^577=0^528=A^58=Sample2^48=5^22=8^207=XHKG^1
0=210^
8=FIXT.1.1^9=333^35=AE^49=CO08201001^56=HKEXCO^34=2
3^52=20211229-09:32:22.588699^1128=9^571=7^487=0^85
6=0^828=102^1123=1^31=46.2^32=522^60=20211229-09:32:22.588699^552=2^54=2^453=3^448=1111^447=D^452=1^44
8=100007^447=D^452=75^448=CE0001.50001^447=D^452=3^
576=1^577=0^528=A^58=Sample3^1115=A^54=1^453=1^448=
CE0001.50002^447=D^452=3^48=5^22=8^207=XHKG^10=068^
8=FIXT.1.1^9=250^35=AE^49=CO08201001^56=HKEXCO^34=4
1^52=20211229-09:37:55.565785^1128=9^571=13^1003=700000000014^487=0^856=4^1123=6^31=465.5^32=5000^60=20211229-09:37:55.565785^552=1^54=1^453=2^448=1111^4
47=D^452=1^448=CE0001.4000100^447=D^452=3^48=700^22=8^207=XHKG^10=234^
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Note:^ Represents the Start of Header (SOH) separator

G. General
1. What are the key differences between the HKIDR and the Northbound Investor ID
Regime that was implemented in 2018? (Updated on 12 December 2022)
The following table summarizes some of the key differences between the two investor
identification regimes for reference:
NB Investor ID

HKIDR

Rules of the Exchange

SFC’s Code of Conduct andRules of the Exchange

Areas
Key sources ofrules andregulations(A) BCAN Assignment

BCAN format
and party
assigning the
BCAN

Client level tobe assigned

BCAN tagging
formatSame client tohave multiple
BCANs

Maximum of 10 digit
assigned by China Connect
Exchange Participant(CCEP) or Trade-throughExchange Particapnt (TTEP)
Level down to until theclient is not an affiliate**

Maximum of 10 digits assigned
by Relevant RegulatedIntermediaries (RRI)*
Level down to until theaccount owner is not a RRI (nomatter the client is an affiliate
or not)
The CE number of the
RRI who assigns the BCAN+
BCAN

BCAN only(e.g. ABC123.1234567890,
ABC123 is the Central Entity(CE) number while
1234567890 is the BCAN)
Not allowed(except for certain
situations e.g. joint
account, different accounts
in affiliates andAllowed
RRI can assign single ormultiple BCANs to a client if
the client holds multiple

CCEPs/TTEPs (but notdifferent trading desks
within the same legal
entity) and a TTEP tradethrough multiple CCEPs)

accounts (i.e. different BCAN
can be assigned to different
account)

No specified order ofpriority for ID documents

ID documents

For corporate entities,
Business Registration
Certificate is NOT
acceptable as ID document.
Only Certificate ofIncorporation / otherofficial incorporation
documents and Legal
Entities Identifier are
acceptedSpecified order of priority for
ID documents per waterfall***Business Registration
Certificate is acceptable as ID
document per therequirements set out in the
SFC’s Code of Conduct

By 3:00pm on T-1 day for
all clients

By 4:30pm on T-1 day(By 4:30pm on T-day for new
accounts & re-activation of
dormant accounts)

BCAN change
for same client

Prior approval from HKEX isrequired

Prior approval from HKEX is
NOT required but need to file
the BCAN change reportsubsequently

Pass on BCAN

Not applicable as BCANs
are assigned by CCEP/TTEP
and the relevant CCEP will
input the orders to HKEX’s
trading system directly

If an order is routed through achain of RRIs, each RRI along
the chain need to pass on the
BCAN assigned by the first RRI

On-exchange orders only

On-exchange orders andOff-exchange transactions (i.e.
manual trades)(optional for odd lots)

BCAN
registration
cutoff time(B) Trading

Transactions
coveredReal time format checking
and validation against
BCAN database in place
BCAN checking
and order
rejection on
the trade date
(T day)AggregatedordersReserved BCAN
valuesIf an invalid or nonregistered BCAN is tagged,
the order may be rejectedby the relevant Mainland
stock exchange

Only real time format checking
in place
No order rejection if an invalid
or non-registered BCAN istagged, but RRIs may besubject to follow-up enquiries
by the SFC and/or SEHK for
potential non-complianceissuesNot applicable

Applicable for an on-exchangeorder or an off-exchange order
or trade which comprises two
or more orders for the same
listed security placed bydifferent clients of an RRI;
subsequent reporting of BCAN
of the underlying orders of an
executed aggregated order(regardless of board lot or oddlot) up to three days after the
trade date (T+3) is required

For “sell-only” orders****:“1” – for individual clients“2” – for institutional
clients“1” – for “sell-only”
orders****“2” – for aggregated orders* For those EPs who are registered as CCEP or TTEP, they may assign the same (i.e.
randomly assigned number not exceeding 10 digits) or different BCANs to a client underboth regimes.
** (A) if a CCEP’s/TTEP’s direct client which is an affiliate will buy or sell China Connect
Securities as principal or on a proprietary basis, the CCEP/ TTEP can assign a BCAN to theaffiliate; and (B) if a CCEP’s/ TTEP’s direct client is a fund manager and/or a fund, therelevant requirements for fund / fund manager shall apply.
*** The waterfall requirements on the collection of CID are set out in paragraph 5.6(o) of
the SFC’s Code of Conduct.

**** If the necessary consent cannot be obtained from an individual (i.e. natural person)
Relevant Client by an RRI, the RRI shall only input sell orders for the client in respect of
the client’s existing holdings. Please also refer to Question D-4.

(Please note that the key differences set out in the above table are not meant to be
exhaustive. Participants and RRIs should seek their own professional advices where
necessary to ensure the compliance of the respective rules and requirements under thetwo regimes.)