An Exchange Participant (EP) of Hong Kong Futures Exchange Limited (HKFE) or an Options Exchange Participant (OTEP) of The Stock Exchange of Hong Kong Limited (SEHK) must have arrangements in place for the clearing and settlement of contracts arising from its business at these Exchanges. It can either perform the clearing and settlement functions directly by registering itself under one category of participantship of the respective clearing houses or it can outsource its clearing and settlement functions to a General Clearing Participant (GCP). In the latter case, the EP or OTEP will become a Non-clearing Participant (NCP). A NCP has to maintain a valid, binding and effective Clearing Agreement with its GCP pursuant to which that GCP agrees to clear the contracts of the NCP.
(I) Documents/Forms required for Application/Termination of a Registered Institution registered as GCP (RI GCP) of HKCC/SEOCH are as follows:-
(II) Documents/Forms required for change of Participantship of HKCC/SEOCH and Set up / Change of Clearing Arrangement between GCP and EP/OTEP are as follows:
Remark:
| With respect to any request for a change in participant's status, it should be noted that a separate review will be conducted according to the admission criteria of the participantship under application. |
If a NCP wants to become a CP/DCP or GCP (of HKCC/SEOCH), please refer to the “Explanatory Notes for Application for Participantship” and “Admission Criteria and Operational Requirements for Becoming a Participant of HKCC/SEOCH” for documents/forms required.
For the current list of GCP of HKCC and SEOCH, please refer to the following links under category “GCP”: