In anticipation of the upcoming launch of the HKD-RMB Dual Counter Model on June 19, 2023, in the Hong Kong securities market, the Securities and Futures Commission (SFC) has updated its guidance on reporting requirements for short selling and record keeping for stock lending. The revised guidance now includes inter-counter transactions of securities under the Dual Counter Model and clarifies that such transactions fall within the current framework. The SFC supports the Dual Counter Model, which will promote the internationalisation of the renminbi and serve as an investment currency. The updated guidance also explains that an ordinary sale occurs when an investor buys a security at one counter first and sells at another. Additionally, when a Dual Counter Model market maker sells a security at one counter and buys it at another, the inter-counter transaction falls under the current exemption, subject to certain conditions. To promote liquidity and minimize price differences between the two counters, market makers will be provided with an effective and efficient mechanism. Those seeking more information about the Dual Counter Model can visit the website of Hong Kong Exchanges and Clearing Limited.