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Why did the SFC kill HSBC's Stockmax?
Two years after the SFC shut retail investors out HSBC's automated trading system, an SFC announcement gives some indication of what happened, but still leaves retail investors wondering why a pioneering service which offered potential price improvement and competition for HKEx's monopoly stock market was not allowed.
- HONG KONG EXCHANGES AND CLEARING LIMITED
- HSBC HOLDINGS PLC
- HSBC SECURITIES BROKERS (ASIA) LIMITED
- SECURITIES AND FUTURES COMMISSION