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DCASS - Frequently Asked Questions 
09/08/2011 
 

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

Clearing Operations

Q17. How many account types are there in DCASS?
Q18. What is the use of DCASS Individual Client Account?
Q19. What is the use of DCASS Client Offset Claim Account ("COCA")?
Q20. What is the use of DCASS Daily Account?
Q21. How can Participants obtain trade detail information?
Q22. How can Participants obtain position information?
Q23. How can Participants perform position netting?
Q24. How do Participants perform client offset claim?
Q25. How would the cross product position netting between different series (i.e. between standard and mini series or between standard and Flexible Option series) be handled?
Q26. How do Participants perform a trade give-up or take-up in DCASS?
Q27. How do Participants transfer trades out of the "Sink Account"?
Q28. What is the rounding mechanism for performing "Average Price Trade" (APT)?
Q29. When will the settlement fee and exercise/assignment fee be charged?
Q30. Which sections of Clearing House Rules list out the fees and costs applicable to Clearing Participants?

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?
Q47. Can one SmartCard be used to access CCMS for different Clearing Houses (HKCC, SEOCH, and HKSCC)?
Q48. How can SmartCard password reset and other administrative changes be made?

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.