Dec 17 (Reuters) - Hong Kong Exchanges and Clearing Ltd

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* MINIMUM SPREADS OF APPLICABLE SECURITIES TO BE REDUCED BY 50%-60% IN TWO PHASES

* PHASE 1 TO BE IMPLEMENTED IN MID-2025; PHASE 2 TO BE LAUNCHED ONE YEAR LATER, SUBJECT TO REVIEW OF PHASE 1 IMPLEMENTATION

* STOCK SETTLEMENT FEE STRUCTURE, ORDER INPUT PRICE LIMIT AND MARKET MAKING OBLIGATIONS FOR RELEVANT SINGLE STOCK OPTIONS ALSO TO BE ADJUSTED

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