Hong Kong Exchanges and Clearing Limited (HKEx) today (Monday) announced that its wholly-owned subsidiary, Hong Kong Securities Clearing Limited (HKSCC), has expanded the Investor Participant (IP) account service to Macau individual investors and incorporated companies.
Macau investors aged 18 or above and who hold a Macau resident identity card are eligible to apply for an Individual IP account. Companies incorporated in Macau can apply for a Corporate IP account. The applicants must be the beneficial owners of the shares to be deposited with CCASS, the Central Clearing and Settlement System.
The IP account service provides a cost effective and convenient way for investors to safe-keep their stockholdings, transfer securities and make use of the nominee services provided by CCASS. IP accounts can also be used to subscribe for new issues using the Electronic Initial Public Offering service.
There are currently over 14,500 IP accounts in CCASS. In addition to Hong Kong residents and incorporated companies, companies incorporated in the British Virgin Islands are eligible to open an IP account. In April 2006, HKSCC admitted the first PRC entity, the National Council for Social Security Fund, to CCASS as a Corporate IP.
For admission details and application procedures, investors can refer to the information on the HKEx website at http://www.hkex.com.hk/eng/prod/clr/sec_clrsett/secsett/apply/how_to_apply.htm or call the CCASS Investor Service Enquiry Hotline at 2979 7000.