CCASS/3 - Frequently Asked Questions 

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Usage of Bank Identifier Code (BIC) and International Securities Identification Number (ISIN)

Q42What is BIC used for?

With CCASS/3, when Participants execute CCASS transactions, they can identify themselves by specifying (1) their Participant ID; or (2) their BIC as an alternative.  BIC will be applied in two situations in general:

1.The data field “Sender BIC” in the file header of all upload files serves as an alternative to the “Participant ID” data field.
2.The data field “Counterparty BIC” in the detailed record of SI/ISI (both on-line screen and upload file) serves as an alternative to the “Counterparty ID” data field.

Q43Should BIC be specified in the file header of all upload files?

BIC will serve as an alternative to Participant ID.  In the case of file header, Participants can specify either the Participant ID or the Sender BIC.  In the case of SI/ISI detailed transaction, Participants can specify either the Counterparty ID or the Counterparty BIC.

Q44Should all Participants provide their BIC to HKSCC? Can a Participant use his BIC to perform CCASS functions without providing such information to HKSCC?

All Participants are encouraged to provide their BIC to HKSCC.  As mentioned earlier, BIC may be used under 2 situations: a Participant can identify himself to CCASS by specifying his BIC, or a Participant can identify his SI/ISI counterparty to CCASS by specifying the BIC.  If a Participant does not provide his BIC to HKSCC, he will not be able to use this alternative to perform CCASS functions.  Also, his SI/ISI counterparts may fail to input SI/ISI using this alternative, which may in turn affect the matching result.

Q45Will CCASS validate both CCASS Participant ID and BIC?

Participants must input either the Participant ID or the BIC (or both) for CCASS to accept a relevant file/record.  And CCASS will validate both the Participant ID and the BIC, if being input. The transaction will be rejected if (1) either Participant ID or BIC is invalid; or (2) they are not referring to the same Participant.

Q46Is it compulsory to specify the ISIN code in the upload files?

No, Participants can specify either the Stock Code or the ISIN (or both) in upload files.

Q47Will there be any validation on both stock and ISIN code if both are input in a transaction?

If both Stock Code and ISIN are input in a transaction, CCASS will validate to ensure that both codes are valid and refer to the same stock.  Otherwise, the transaction will be rejected.

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