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SEOCH

Rules

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Options Clearing Rules of SEOCH

RULE(S)
  • Chapter 1 - Definitions and Interpretation
    101 Definitions
    102-105 Interpretation
    106 Amendment
    107-108 Exclusion of Liability
    109 Governing Law
    110 SEOCH Management of SEOCH Collateral
    111-113 Notice
    114-115 Transitional Provisions
  • Chapter 2 - Clearing by SEOCH
    201 Acceptance for Clearing of Contracts
    202 OCH Contracts and NCP Contracts
    203-207 Terms of OCH Contracts
    208-209 Terms of NCP Contracts
    210 Effect of Give-ups on OCH Contracts and NCP Contracts
    211 Effect of Novation or Discharge
    212 Error Trades
    213 Adjustments to Contracts
    214 SEOCH Price Determinations
  • Chapter 3 - SEOCH Participantship
    301-302 Categories of SEOCH Participantship
    303 Qualification
    304-307 Applications
    308-312 Approval
    313 Registration
  • Chapter 4 - SEOCH Participants' Obligations
    401 Compliance with the Clearing Rules
    402-404 Continuing Obligations
    404A Reserve Fund Purpose
    405-410 Reserve Fund Requirements
    411 Maximum Current Liability to Contribute to the Reserve Fund
    412-413AB SEOCH Use and Order of Application of the Reserve Fund
    413A-413B Accounts of Reserve Fund
    413C-413E Replenishment of Reserve Fund Contributions
    414 Recoveries
    415-418 No Transfer of SEOCH Participantship
    419-427 Resignation as a SEOCH Participant
    428-428A Confidentiality
    429-434A Clearing Agreements
    435-437 Monitoring by GCPs
    438 Right to Demand Documents
    439-441 Power to Make Inspections
    442 Power of SEOCH to Modify the Terms of Continued Participantship
    443 [Repealed]
    444-446 Tax
  • Chapter 5 - Exercise, Delivery and Settlement
    501-507 Exercise
    508-511 Delivery and Settlement Under OCH Contracts
    512 [Repealed]
    513 Indemnity
  • Chapter 6 - Risk Management and Payment Procedures
    601-602 Premium and Settlement Amounts
    603-607 Margin and SEOCH Collateral
    608-610A Margin, Premium and Settlement Amounts Calculation
    611-613 Collection of Margin, Premium and Settlement Amounts by SEOCH
    614-615 Intra-day Margin
    615A Special Block Trade Margin
    616 Interest
    617-620 Fees, Levies and Charges
    621-622 SEOCH CCMS Collateral Accounts
    623 [Repealed]
    624-630 Position Limits
    631 Exercise Limits
  • Chapter 7 - Default Procedures
    701-705 Default
    706-712 General
    713 Indemnity
    714-717 GCP Obligations on Default, Resignation or other Relevant Circumstances
    718-718A Suspension of SEOCH Participantship
    719-721 Expulsion
    722-723 Return of Reserve Fund Contributions of an Expelled or Resigning SEOCH Participant
    724 Default Procedures Prevail
  • Chapter 8 - Disciplinary
    801-802 Situations Calling for Disciplinary Action
    803 Co-operation
    804 Notification
    805 Procedures
    806 The SEOCH Board's Disciplinary Powers
    807 Summary Offences
  • Chapter 9 - Emergency Procedures
    901 Suspension of Access to the Options Clearing System
    902 Emergency Committee
    903 Typhoons and Rainstorms
    904 Facsimile Instruction Entry
  • Chapter 10 - Stamp Duty
    1001 Stamp Duty Assessment and Collection
  • Chapter 11 - DCASS
    1101 Introduction
    1102-1107 Connection to DCASS
    1108-1112 DCASS Equipment and Software
    1112A Backup Centre for DCASS
    1113-1114 Liability of SEOCH Participants
  • Chapter 12 - CCMS
    1201 Introduction
    1202-1205 Connection to CCMS
    1206-1210 CCMS Equipment and Software
    1211 Backup Centre for CCMS
    1212-1213 Liability of SEOCH Participants
  • First Schedule Process for Substitution and Novation of Options Contracts
  • Second Schedule Effect of Give-Ups on OCH Contracts and NCP Contracts

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    (Update No. 1 2016 of the Options Clearing Rules is now available for subscription. For those who wish to subscribe hardcopy updates to the Options Clearing Rules, please complete and return the attached copy of the Updating Service Request Form.)

       For previous updates: please click here

    Updated 06 Nov 2017

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