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USM information papers by HKEX and the Federation of Share Registrars
Information paper by the Federation of Share Registrars for issuers and investors

The Federation of Share Registrars Limited (FSR) has published an information paper for issuers and shareholders on USM implementation in Hong Kong. This information paper aims to provide issuers and investors with an overview of USM and explain key processes under the new regime.

For more details, please refer to other relevant materials available on the FSR’s webpage.

Information paper by HKEX for intermediaries

HKEX has published an information paper for intermediaries on USM implementation in Hong Kong. This information paper aims to provide participants of Hong Kong Securities Clearing Company Limited (HKSCC) with an overview of USM, and explain the operational processes and other technical changes under USM.

For more details, please refer to other relevant materials available on HKEX’s dedicated USM webpage, including amendments to the rules and procedures of HKSCC and the Stock Exchange of Hong Kong Limited, and amendments to the Listing Rules.

Last update: 7 Sep 2026

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