DCASS - Frequently Asked Questions 
21/01/2016 
 

Below is a list of FAQs and their answers which Clearing Participants may find useful.

Clearing Processing Schedules and Operations

Q13. When can Participants perform post-trade activities like give-up, take-up, trade rectification, etc. via DCASS?
Q14. What should Participants do if they expect that they could not complete their post-trade activities for T Session before the System Input Cutoff Time (i.e. 6:45 pm) ?
Q15. Where can Participants find the on-behalf input request forms?
Q16. What is the transmission schedule of Exercised Options Trades (EOTs) from SEOCH to CCASS resulting from exercise and assignment of stock options?
Q17. What are the requirements for trade adjustments in respect of Block Trade?
Q18. How many account types are there in DCASS?
Q19. What is the use of DCASS Individual Client Account?
Q20. What is the use of DCASS Client Offset Claim Account ("COCA")?
Q21. What is the use of DCASS Daily Account?
Q22. How can Participants obtain trade detail information?
Q23. How can Participants obtain position information?
Q24. How should Participants do if they have net down positions wrongly?
Q25. How would the cross product position netting between different series (i.e. standard vs mini series or standard vs Flexible Option series) be handled?
Q26. How can Participants perform a trade give-up or take-up in DCASS?
Q27. How can Participants transfer trades out of the "Sink Account"?
Q28. What is the rounding mechanism when performing "Average Price Trade" (APT) transaction?
Q29. When will the settlement fee and exercise/assignment fee be charged?
Q30. Where can Participants locate the Clearing House Rules fee schedules?

Common Collateral Management System (CCMS)

Q31. How can Participants check all collateral balances and transaction records?
Q32. How money settlement is handled by CCMS and what are "Outstanding Debit Amount" and "Shortfall Amount"?
Q33. What is the cutoff time for withdrawal of surplus funds?
Q34. Can Participants transfer the cash collateral between their Collateral Accounts?
Q35. Why the cash balance before posting not always the same as the last day ending cash balance as shown in the "Posting / Collateralisation Result Report" (CCMPY02)?
Q36. Why do different collateralisation batches appear twice for the same account in the "Posting / Collateralisation Result Report" (CCMPY02)?
Q37. How much interest will be received by Clearing Participants on the cash margin deposits and when will it be received?
Q38. What kinds of cash and non-cash collaterals are accepted for satisfying margin requirements? Is there any priority of usage and haircut?
Q39. How do participants deposit or withdrawal cash in approved currency other than settlement currency with the Clearing Houses?
Q40. What are the accommodation charges on non-cash collateral deposit?
Q41. How can SEOCH Participants transfer stocks between their CCASS and CCMS Collateral Accounts?
Q42. When can SEOCH Participants transfer the de-covered stock back to CCASS?
Q43. How would CCMS handle those corporate actions that affect the stocks transferred to the SEOCH Participants' Collateral Accounts from CCASS?
Q44. Apart from initial contribution, when are Clearing Participants required to make additional contribution to Reserve Funds?
Q45. What are the means of contribution to Reserve Funds?
Q46. How is Reserve Fund contribution collected from / released to Clearing Participants?

Security Control Measures

Q54. How do Participants update Clearing Houses for change of authorised signatories and contact details?
Q55. What is the security measure for Participants to access DCASS?
Q56. What is the security measure for Participants to access CCMS?

Typhoon and Black Rainstorm

Q57. What is the clearing and settlement arrangements during Typhoon Signal No. 8 (or above) / Black Rainstorm Warning?

 

Note: This FAQ is for information only and in the event of inconsistencies and / or conflicts between this document and the Clearing Rules and Procedures of HKCC, Options Clearing Rules and the Operational Clearing Procedures for Options Trading Exchange Participants of SEOCH and the relevant Agreements, the Rules, Clearing Procedures and Agreements shall prevail.