Depository and Nominee Services 
16/12/2014 
 
III. Depository and Nominee Services
 
Fee Nature Transaction Nature Fee Amount
Stock deposit fee

Deposit of eligible securities other than China Connect Securities into CCASS Depository

 

Nil
Stock withdrawal fee

Withdrawal of registered eligible securities. Not applicable to foreign securities or China Connect Securities

 

HK$3.50 per board lot. Odd lots also charged at HK$3.50 each

Withdrawal of other non-eligible securities, including discontinued eligible securities (e.g. expired warrants), uncertificated or delisted bearer securities and securities entitlements which are not eligible securities. Not applicable to foreign securities or China Connect Securities

 

HK$1 per board lot for registered securities or HK$1 per certificate for bearer securities. Odd lots also charged at HK$1 each

Withdrawal of eligible bearer debt securities. Not applicable to foreign securities or China Connect Securities

 

HK$100 per certificate

Withdrawal of foreign securities and securities entitlements accruing from foreign securities which do not constitute eligible securities

 

HK$600 per instruction plus out-of-pocket expenses incurred by Hongkong Clearing
Stock custody fee Safe-keeping of registered securities held in CCASS Depository. Not applicable to foreign securities or China Connect Securities

HK$0.012 per board lot per month subject to a maximum of HK$100,000 per month per participant. Odd lots also charged at HK$0.012 each (Fee calculated on aggregate month-end stock quantity balances in stock accounts of each participant)

 

Safe-keeping of bearer debt securities, EFN and specified instruments held in CCASS Depository. Not applicable to foreign securities or China Connect Securities

0.012% per annum on nominal value calculated on a daily basis, subject to a maximum of HK$300,000 per month per participant (fee calculated on aggregate daily balance of nominal values of bearer debt securities, EFN and / or specified instruments in stock account of each participant)

 

Stock maintenance fee For foreign securities only

HK$0.25 per 100 shares or balance of less than 100 shares ( fee calculated on the daily average stock balance of foreign securities and payable monthly. No stock custody fee will be charged)

 

Stock segregated accounts with statement service fee Statements of daily stock movements and monthly balances of a segregated account will be sent directly to a person nominated by a CCASS participant HK$10 per month per account
Portfolio fee For China Connect Securities held or recorded in CCASS.

Notes: Fee calculated on aggregate daily stock portfolio value in Stock Accounts of each Participant and collected on a monthly basis.

Accrued daily at fixed cumulative percentage per annum on the total daily stock portfolio value of China Connect Securities per Participant.

  • 0.008% per annum for the first HK$50 billion;
  • 0.007% per annum for the next HK$200 billion (portfolio values above HK$50 billion and up to HK$250 billion);
  • 0.006% per annum for the next HK$250 billion (portfolio values above HK$250 billion and up to HK$500 billion);
  • 0.005% per annum for the next HK$250 billion (portfolio values above HK$500 billion and up to HK$750 billion);
  • 0.004% per annum for the next HK$250 billion (portfolio values above HK$750 billion and up to HK$1,000 billion);
  • 0.003% per annum for the remainder (portfolio values above HK$1,000 billion).

 

Dividend and other distribution and debt securities interest collection service fee Collection and distribution of cash dividend or cash distribution or cash bonus or cash interest.

Fee also applicable to Units and foreign securities.

Fee not applicable to China Connect Securities.

 

0.12% of the aggregate of cash amount of dividend, distribution, bonus and interest per stock/debt securities paid to participant in one currency on the same day, subject to a maximum of HK$10,000 (or its equivalent in foreign currencies). Fee together with other applicable bank charges will be deducted at source at the time of distribution to participants.

Collection and distribution of scrip dividend/bonus shares.

 

Nil.
Handling fee for conversion, redemption and corporate actions of registered and bearer debt securities Conversion, redemption and corporate actions of registered and bearer debt securities, including Exchange Fund Notes, government bonds, specified instruments and CMU Instruments.

Where there is automatic conversion or redemption of non-eligible registered or bearer debt securities including Exchange Fund Notes, specified instruments and CMU Instruments, the handling fee shall be payable.

Fee also applicable to foreign securities.

Fee not applicable to China Connect Securities.

 

HK$30 per instruction / announcement.Fee debited on input or event date.
Corporate actions service fee for registered non-debt securities Common Nominee services provided for registered non-debt securities in relation to all corporate actions other than the collection of cash dividends, cash distribution and bonuses, bonus shares, stock  dividends, corporate voting, stock splitting or stock consolidation.

Fee also applicable to foreign securities and the applications for issue and redemption of units.

Fee also applicable to automatic exercise of structured products at expiry.

Fee not applicable to China Connect Securities.

 

HK$0.80 per board lot subject to a maximum of HK$10,000 per instruction or (if no instruction is required for a corporate action) per corporate action per account. Odd lots also charged at HK$0.80 each.  Where the amount calculated as aforesaid exceeds the corresponding amount of cash payment entitlement collected in respect of the corporate action and such cash payment is the only form of entitlement collected in respect of that corporate action (for the avoidance of doubt, this does not apply where there is no cash payment entitlement in respect of a corporate action), the amount of the cash payment.

Fee calculated on stock quantity balances on which the corporate actions are to be taken.

Fee debited on input dates or event dates of corporate actions.

Handling fee for warrant conversion, voluntary takeover, tender offer, or open offer of foreign securities Warrant conversion, voluntary takeover, tender offer, or open offer of foreign securities.

HK$600 per instruction (plus out-of-pocket expenses incurred by HKSCC, if any, will be borne by the participants).Fee debited on date of submission of instruction.

 

Handling charge for unclaimed entitlements Claims made by participants against HKSCC. HK$200 per claim application in respect of unclaimed entitlements of a stock or (if the gross cash amount of the unclaimed entitlements is less than HK$200) the gross cash amount.

Fee is additional to other fees for relevant nominee services.

Fee is payable on successful claim application.

 

Registration and transfer fee

Notes:

HKSCC may incur payments for re-registration of registered eligible securities as well as non-eligible securities and in relation to adjustments for entitlements in respect of late deliveries under the CNS system.

In relation to portfolio transfer of registered securities from Clearing and/or Custodian Participants’ stock accounts to the Investor Participant’s  stock account in CCASS by ISI transactions without trade data value input within the first ten settlement days from the date of opening of the investor account and for which HKSCC has granted registration and transfer fee concession to the Investor Participant; the number of board lots representing such transfer will be deducted from the aggregate holdings in board lots in the stock accounts balances of the Clearing and/or Custodian Participant for the purpose of calculating the registration and transfer fee payable by such Clearing and/or Custodian Participant.

For registering eligible securities in the name of HKSCC Nominees Limited.  

Fee not applicable to China Connect Securities.

HK$1.50 per board lot on net increase in aggregate holdings in board lots of registered securities in balances in the stock accounts of a participant since the date on which fee was last collected by HKSCC. Odd lots also charged at HK$1.50 each.

Nil for Exchange Fund Notes, government bonds, specified instruments, CMU Instruments and foreign securities.

Fee is debited on one of the following collection dates:-

(i) The last registration date of a corporate event of which a book-close date / record date is announced by the issuer of registered securities for determining the registered holders and their registered holdings that qualify for receipt of cash and non-cash entitlements, (other than for receipt of out-of-money right issue entitlements determined by reference to the closing nominal prices of the underlying securities on the first ex-date, i.e., two trading days prior to the relevant book-close dates, for attendance at meetings and votings solely without receipt of any entitlement and for stock conversion into other eligible securities only);


(ii) Event date of corporate actions other than share splitting or consolidation, stock conversion into other eligible securities or corporate actions involving no cash distribution to the registered holders).

 

Fee is subject to revision if registration and transfer fee is changed by share registrars.

Fee not applicable to China Connect Securities.

HKSCC may, on written applications of participants, grant concessions to the participants with respect to all or part of the registration and transfer fee and HKSCC may charge a handling charge of HK$1,000 per application.  HKSCC shall stipulate the circumstances, and the criteria to be satisfied, for the grant from time to time.

Concession may be granted on a written application by the participants if their CCASS participantship is altered due to their business restructuring.

A concessionary registration and transfer fee of HK$2.50 per certificate will be charged in respect of large denomination registered share/debt securities certificates deposited in CCASS instead of the normal registration and transfer fee. Each such registered share/debt securities certificate must represent at least 1,000 board lots. Such fee will be debited at the time of deposit. The number of board lots represented by such large denomination registered share/debt securities certificates will not be included in the calculation of the normal registration and transfer fee debited on the relevant collection date.

 

Handling fee for tender instructions

To tender instruction via CCASS terminal.

HK$5 per instruction.

Fee is debited on input date.

 

Handling fee for electronic application instructions for new issue shares

To subscribe to new issue shares via CCASS terminal.

HK$5 per instruction.

Fee is debited on input date.

 

Bank charges on foreign currency benefits and entitlements distribution

Actual amounts incurred by HKSCC.

Recovery of bank charges from Participants will be deducted at source at the time of distribution of entitlements to participants.

 

Disbursements and out-of-pocket expenses in connection with nominee services

Actual amounts incurred by HKSCC.

Recoveries of disbursements and out-of-pocket expenses are additional to other fees for relevant nominees services and will be debited or deducted as when incurred by HKSCC.