CCASS SETTLEMENT PROCESS FLOWCHART PDF

Unless isolated under the isolated trades system by the broker participants at the time of the transaction or by HKSCC for risk management purposes, exchange trades are settled under the CNS system on a netted basis. The market contract between the buyer and seller is novated by two new market contracts whereby HKSCC enters the contracts as counterparty to the buying and selling participant respectively. The stock transactions of a broker participant are offset against each other, resulting in a net stock position to be settled. Any unsettled net stock position of a broker participant at the end of a settlement day is moved forward to the next settlement day and continuously netted against any stock position due for settlement. Isolated trades are settled on a trade-by-trade basis.

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SI transactions are settled on the settlement day stipulated by both Participants. Securities settlement is effected either by scheduled daily batch settlement runs or immediate on-line transfer by the input of Delivery Instructions DIs. Provided that there are sufficient stocks in the stock account of the delivering Participants, settlement of ISIs will be immediately effected on the settlement day specified by the brokers or custodians which are CCASS Participants once the Investor Participants make the affirmation.

Otherwise, the ISI transactions will be settled by multiple batch settlement-runs or the input of DIs. During each batch settlement run, delivering Participants' stock accounts are debited and the stock accounts of receiving Participants' are credited; delivering Participants may choose, or be requested by counterparties, to settle a position or transaction on-line by initiating DIs.

Each DI takes immediate effect upon input, if there is sufficient stock balance available in the delivering Participant's stock clearing account. Each Participant establishes an account per settlement currency at a Designated Bank and authorises HKSCC to initiate electronic instructions to debit or credit its Designated Bank account s. Book-entry money records are generated for a Participant in its money ledger with respect to its settlement and other financial obligations due to or from HKSCC.

Participants other than Investor Participants may enquire about their money obligations for settled or unsettled positions through their CCASS terminals throughout the settlement day. The money positions arising from Exchange Trades and Clearing Agency Transactions settled under the CNS system in each stock position are netted, resulting in a single net amount due to or from the participant.

This is settled by direct debit or credit instruction issued by HKSCC to the Designated Bank of the Participant no later than day-end of the settlement day. Search Website Search. Market Data. HKEXnews View listed company announcements and more on the centralised platform for regulatory filings and disclosures. News Alerts Sign up to receive company announcements or website updates by email. Contact Us Get in touch with our Listing Department.

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Download PDF. The Main Board listing refers to the main group of publicly listed companies with proven profitability records and size to justify being publicly listed. It generally caters for smaller companies that do not qualify for main board listing and is primarily for smaller capitalised and newly emerging companies. This market is more volatile than the main board. Eligible investors in Hong Kong and Mainland China are allowed to trade eligible shares listed on the each other's market through the exchange and clearing house in their local market.

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