Hong Kong Exchanges and Clearing Limited (HKEx) said Monday it has received approval from the Securities and Futures Commission to extend the trading hours of its securities and derivatives markets in two phases as planned.

Starting on March 7, 2011, the morning trading sessions of HHEx 's securities market will start earlier and run from 9:30 a.m. to 12:00 noon from the previous 10:00 a.m. to 12:30 p.m. The afternoon trading session will start from 1:30 p.m. to 4:00 p.m. from the previous 2:30 p.m. to 4:00 p.m. Beginning on March 5, 2012, the afternoon trading session will be from 1:00 p.m. to 4:00 p.m.

Trading in HKEx's derivatives markets and the auction sessions of the securities and derivatives markets will also start earlier from March 7.

The publication windows for listed issuers to make Listing Rules-related announcements through the HKEx news website will also be revised. From March 7 this year, the morning window will be between 6:00 a.m. and 8:30 a.m. on normal business days, while the window during the lunch break will be between 12:00 noon and 1: 00 p.m. during phase one of the extension and between 12:00 noon and 12:30 p.m. after phase two begins. The window in the evening will continue to be between 4:15 p.m. and 11:00 p.m.

HKEx said the extension of trading hours will improve the price discovery function for mainland-related securities listed in Hong Kong by increasing the overlap of its trading hours with the Chinese mainland exchanges' trading hours. HKEx added that the changes will strengthen its competitiveness by narrowing the gaps between its trading hours and those of its regional competitors.