Hong Kong Exchanges and Clearing (HKG:0388) will remove its existing settlement fee structure and will charge each stock transaction at 0.0042% for each trade beginning in June, the bourse operator said Friday.

The bourse operator presently charges a minimum fee of HK$2 and a maximum of HK$100 per stock deal, which is disproportionate for lower-value trades.

The new structure will be cost-neutral and is seen to be a more equitable structure for all trade sizes, HKEX said.

Exchange-traded products will also be set at rate of 0.002% per transaction, with the minimum and maximum fees removed.

About 77% of all securities trades will benefit from the changes, HKEX said.