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PREFACE
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DEFINITIONS
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PART ONE
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CCASS
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SECTION 1
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INTRODUCTION
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1.1
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HKSCC
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1.2
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What is CCASS ?
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1.3
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Main CCASS services
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1.4
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Additional services
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SECTION 2
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PARTICIPANTS
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2.1
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Admission of Participants
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2.2
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Admission fee
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2.3
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Stock Accounts and CCMS Collateral Accounts
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2.4
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Money Ledger
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2.5
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Authorised Signatories
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2.6
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Designated Officer and Alternate Designated Officer
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2.7
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List of Participants
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2.8
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Appeal to the Participant Admission Appeals Committee
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SECTION 3
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CCASS TERMINALS / CCASS PHONE SYSTEM / CCASS INTERNET SYSTEM / PARTICIPANT GATEWAYS
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3.1
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Direct linkage
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3.2
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Commissioning of CCASS Terminals and Participant Gateways
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3.3
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Delegated Administrators
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3.4
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Authorised Users
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3.4A
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SSA Statement Recipients
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3.5
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Access control of CCASS Terminals and Participant Gateways |
| 3.5A |
Access control of RMS |
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3.6
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Operations undertaken through CCASS Terminals, Participant Gateways and RMS |
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3.7
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Servicing of CCASS Terminals, Participant Gateways and RMS |
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3.8
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Back-up Centre for access to CCASS
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3.9
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CCASS Terminals and Participant Gateways of Designated Banks
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3.10
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CCASS Phone System and CCASS Internet System
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SECTION 4
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BACK-UP CENTRE / CUSTOMER SERVICE CENTRE
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4.1
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Introduction
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4.2
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Customer Service Centre
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SECTION 5
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ELIGIBLE SECURITIES
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5.1
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Securities accepted as Eligible Securities
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5.2
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Currency of denomination and settlement
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5.3
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Stock code number and description
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5.4
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Restrictions affecting Eligible Securities
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SECTION 6
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OPERATIONAL AND SERVICE SCHEDULE
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6.1
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Processing and service
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6.2
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Daily processing and service schedule for Participants other than Investor Participants
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6.3
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Daily service schedule for Designated Banks
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PART TWO
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SERVICES AND FACILITIES
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SECTION 7
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DEPOSITORY AND RELATED SERVICES
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7.1
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CCASS Depository Services
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7.2
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Operating principles
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7.3
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Procedures for deposit
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7.4
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Procedures for withdrawal
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7.5
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Security control
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7.6
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Forms
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7.7
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Withdrawal order functions available for use
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7.8
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Purging of withdrawal orders
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7.9
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Relevant CCASS reports
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7.10
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Exchange Fund Notes, Government Bonds,Specified Instruments and CMU Instruments
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7.11
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Foreign Securities
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7.12
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Structured Products
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7.13
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Procedures for transfer of Multi-counter Eligible Securities
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7.13A
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Procedures for conversion of holdings of Eligible Securities subject to parallel trading arrangements
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7.14
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Uncertificated Eligible Securities
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SECTION 8
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NOMINEE SERVICES |
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8.1
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Provision of nominee services
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8.2
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General principles
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8.3
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Corporate announcement information
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8.4
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Corporate announcements
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8.5
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Corporate communications
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8.6
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Voting
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8.7
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Cash dividend entitlements
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8.8
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Bonus issues of securities
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8.9
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Dividend entitlements with options
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8.10
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Rights issues by issuers of Eligible Securities (other than China Connect Securities and other scripless securities)
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8.10A
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Rights issues relating toChina Connect Securities, other scripless securities and non-eligible securities
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8.11
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Open offers relating to Eligible Securities other than China Connect Securities
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8.11A
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Open offer relating to China Connect Securities
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8.12
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Take-over offers
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8.13
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Conversion of warrants
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8.13A
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[Repealed]
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8.13B
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[Repealed]
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8.14
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Sub-divisions, consolidations etc.
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8.15
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Interest payments
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8.16
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Conversion of bonds
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8.17
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Bond, Exchange Fund Notes, Government Bonds, Specified Instruments and CMU Instruments redemption
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8.17A
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Redemption of Shares
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8.18
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[Repealed] |
| 8.18A |
Electronic Application Instructions for New Issue Shares |
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8.19
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Tender Instructions for Exchange Fund Notes, Government Bonds, Specified Instruments and CMU Instruments
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8.20
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Electronic Applications for the issue & redemption of Units
and book-entry deposit or withdrawal of Units |
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8.20A
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Scrip and/or cash payment relating to Structured Products
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8.20B
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Redemption of Structured Products which have a rollover mechanism
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| 8.20C |
Requisitions |
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8.21
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Fractional securities
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8.22
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Unclaimed entitlements
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8.23
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Decimal places for calculation purposes
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8.24
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Forms
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8.25
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Intra-day payment in an Eligible Currency
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8.26
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Nominee Payment (Evening) Distribution in an Eligible Currency
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| 8.27 |
CA ISO Message Service |
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SECTION 9
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OVERVIEW OF CLEARING AND SETTLEMENT IN CCASS
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9.1
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Transactions accepted for settlement in CCASS
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9.2
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Exchange Trades
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9.2A
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China Connect Securities Trades
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9.3
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SI Transactions
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9.4
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ISI Transactions
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9.5
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Clearing Agency Transactions
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9.6
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Transfer Instructions
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9.6A
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Cross Border Transfer Instructions
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9.7
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Securities settlement
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9.8
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Money settlement
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SECTION 10
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EXCHANGE TRADES - CNS SYSTEM
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10.1
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Acceptance for settlement under the CNS System
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10.2
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Trade amendments, “late” Exchange Trades and trades not recognized by the Exchange
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10.3
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Netting
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10.4
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Securities Settlement under the CNS System
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10.5
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Money settlement under the CNS System
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10.6
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Late delivery : default fee
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10.7
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Late delivery : compulsory stock borrowing by HKSCC
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10.8
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Late delivery : Buy-in
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10.9
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Late delivery : adjustments for entitlements
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10.10
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Risk management : Marks
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10.10A
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Risk management : Margin
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10.11
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Risk management : Collateral
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10.12
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Risk management : Securities-on-hold
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10.13
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Risk management: Evidence of securities available for settlement
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10.14
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Risk management : Closing-out
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10.15
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Risk management : Cash and Collateral Securities
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| 10.16 |
Risk Management: Contract Termination |
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SECTION 10A
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CHINA CONNECT SECURITIES TRADES - CNS SYSTEM
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10A.1
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Acceptance for settlement under the CNS System
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10A.2
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Netting
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10A.3
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Securities settlement
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10A.4
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Money settlement under the CNS System
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10A.5
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Late delivery: default fee
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10A.6
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Late delivery: Buy-in
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10A.7
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Late delivery: adjustments for entitlements
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10A.7A
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Late delivery: adjustment of sellable balance for China Connect Securities
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10A.8
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Risk management: Mainland settlement deposit
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10A.9
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Risk management: Mainland security deposit
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10A.10
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Risk management: Marks
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10A.11
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Risk management: Collateral
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10A.12
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[Repealed]
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10A.13
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Risk management: Cash collateral
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10A.14
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Risk management: Securities-on-hold of China Connect Securities
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10A.15
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Risk management: Closing-out
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SECTION 11
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EXCHANGE TRADES - ISOLATED TRADES SYSTEM
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11.1
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Settlement under the Isolated Trades System
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11.2
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Trade amendments, “late” Exchange Trades and trades not recognized by the Exchange
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11.3
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HKSCC not responsible for Isolated Exchange Trades
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11.4
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Settlement of Isolated Exchange Trades
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11.5
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Money settlement of Isolated Exchange Trades
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11.6
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Late delivery: default fee
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11.7
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Late delivery: stock borrowing
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11.8
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Late delivery: Buy-in
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11.9
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Late delivery: adjustments for entitlements
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11.10
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Late delivery: accrued interest of interest bearing Debt Securities
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SECTION 12
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NON-EXCHANGE TRADES - SI TRANSACTIONS, CLEARING AGENCY TRANSACTIONS, ISI TRANSACTIONS,TRANSFER INSTRUCTIONSAND NON-TRADE TRANSFERS IN CHINA CONNECT SECURITIES
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12.1
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SI Transactions (Between Participants other than Investor Participants)
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12.2
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Clearing Agency Transactions
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12.3
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ISI Transactions (Involving Investor Participants)
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12.4
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Transfer Instructions
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12.5
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Cross-Border Transfer Instructions
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12.6
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Non-Trade Transfers in China Connect Securities
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SECTION 12A
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FOREIGN EXCHANGE SERVICES
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12A.1
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The TSF
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12A.2
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TSF FX transactions
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12A.3
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Money positions in respect of TSF FX transactions
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12A.4
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Settlement of TSF final FX positions
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12A.5
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Earmarking and de-earmarking of TSF stocks
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12A.6
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Stock release requests and stock release FX transactions
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12A.7
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Amendments to TSF exchange trades and adjustments to TSF FX transactions
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12A.8
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Failure to settle money positions
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12A.9
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Risk management: collateral
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SECTION 13
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SECURITIES SETTLEMENT
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13.1
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General
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13.2
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Settlement by DIs
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13.3
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Settlement by Batch-settlement-runs
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13.4
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Allocation algorithm for long CNS stock positions
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13.5
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Enquiries and reports
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13.6
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Cancelling stock positions
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SECTION 14
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CCASS MONEY SETTLEMENT |
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14.1
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Scope of money settlement services
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14.2
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Designated Banks and authorisation forms
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14.3
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Instructions by HKSCC to Designated Banks
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14.4
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DDIs and DCIs
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14.5
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Electronic Payment Instructions
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14.6
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[Repealed]
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14.7
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CHATS Payment Instructions
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14.8
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Intra-day Payment Instructions
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SECTION 15
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ENQUIRY SERVICES
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15.1
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Enquiry services
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15.2
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Use of various enquiry functions available
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15.3
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Hours when services are available
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15.4
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Access rights to enquiry services
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SECTION 16
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STATEMENTS AND REPORTS
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16.1
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Statements and reports available
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16.2
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Access rights to report retrieval functions
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16.3
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Retrieval of reports |
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16.4
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[Repealed] |
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16.5
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Request for re-prints
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16.6
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Reports and statements for Participants
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16.7
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Reports and statements for Designated Banks
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16.8
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Reports and statements for SSA Statement Recipients relating to SSA with Statement Service
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16.9
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Errors
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SECTION 17
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SUSPENSION OF SERVICES
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17.1
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General
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17.2
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Typhoons, Extreme Conditions and Rainstorms |
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17.3
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[Repealed] |
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17.4
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Other contingency situations
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| SECTION 17A |
CLEARING SERVICE TERMINATION EVENT |
| 17A.1 |
Calculations of net payments following a Clearing Service Termination Event |
| SECTION 17B |
HKSCC FAILURE TO PAY EVENT OR HKSCC INSOLVENCY EVENT |
| 17B.1 |
Calculations of net payments under an HKSCC Failure to Pay Event or an HKSCC Insolvency Event |
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PART THREE
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DUTIES AND RESPONSIBILITIES OF PARTICIPANTS
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SECTION 18
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GUARANTEE FUND
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18.1
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General
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18.2
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Calculation of Contributions
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18.3
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Form of Contributions
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18.4
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Review of Contributions
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18.5
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Payments to be made out of the Guarantee Fund
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18.6
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Assessments, Voluntary Recapitalization and Replenishment of Guarantee Fund
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SECTION 19
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FINANCIAL AND ACCOUNTING REQUIREMENTS
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19.1
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Financial requirements
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19.2
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Accounting requirements
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SECTION 20
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DISCIPLINARY ACTION
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20.1
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Information
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20.2
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Monitoring and investigations
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20.3
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Responsibility of Participants
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20.4
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Acts of misconduct
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20.5
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The disciplinary function of HKSCC
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20.6
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Membership of Committee
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20.7
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Referral to the Disciplinary Committee
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20.8
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Pre-hearing preparation and pre-hearing review
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20.9
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The Disciplinary Committee hearing
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20.10
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Appeal to the Disciplinary Appeals Committee
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20.11
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Publicity and public censure
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PART FOUR
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TARIFF
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SECTION 21
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COSTS AND EXPENSES |
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21.1
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Clearing and settlement of Exchange Trades
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21.1A
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Clearing and settlement of China Connect Securities
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21.2
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Clearing and settlement of SI Transactions
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21.3
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Clearing and settlement of ISI Transactions
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21.3A
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Clearing and settlement of Transfer Instructions
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21.3B
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Cross-Border Transfer (Receipts/Deliveries) Instructions
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21.4
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[Repealed]
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21.5
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Depository and nominee services
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21.6
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[Repealed]
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21.7
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Other money settlement fees
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21.8
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Report reprinting service
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21.9
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(i) Repealed
(ii) Repealed
(iii) Fees for CCASS Terminal accessed by smartcard
(iv) Fees for Participant Gateways
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21.10
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Applicable interest rates
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21.11
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SSA with statement service
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21.11A
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Stock Segregated Account Transfer Instructions
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21.12
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[Repealed]
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21.13
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Costs and expenses - miscellaneous
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21.14
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Billing
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21.15
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Review of costs and expenses
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21.16
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Default fee for later delivery under the CNS System
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21.17
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Foreign Currency denominated transactions
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21.18
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[Repealed] |
|
21.18a
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[Repealed]
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21.19
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Clearing and settlement of TSF FX transactions
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21.20
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Exception handling fee in relation to settlement of TSF FX transactions and earmarking of TSF stocks
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21.21
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Special Segregated Account
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SECTION 22
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TARIFF FOR INVESTOR PARTICIPANTS
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22.1
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Clearing and settlement of ISI Transactions
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22.1A
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Clearing and settlement of TI Instructions
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22.1B
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Cross-Border Transfer (Receipts/Deliveries) Instructions
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22.2
|
Depository and nominee services
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22.3
|
[Repealed]
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22.4
|
Other money settlement fees
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22.5
|
Customer Service Centre
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22.6
|
Investor accounts maintenance fees
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22.7
|
Applicable interest rates
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22.8
|
Costs and expenses - miscellaneous
|
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22.9
|
Billing
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22.10
|
[Repealed]
|
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22.11
|
Review of costs and expenses
|
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22.12
|
Foreign Currency denominated transactions
|
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SECTION 23
|
TARIFF OF ISSUERS
|
|
23.1
|
Admission of Structured Products
|
| 23.2 |
Admission of Securities |
|
Appendix 1-5
|
[Repealed]
|
|
Appendix 6
|
Compulsory Stock Borrowing and Lending Regulations
|
|
Appendix 7-8
|
[Repealed]
|
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