The Central Clearing and Settlement System ("CCASS") is established and operated by Hong Kong Securities Clearing Company Limited ("HKSCC").
The terms and conditions regulating the use of CCASS are set out in the General Rules of CCASS ("Rules").
This document, to be referred to as the Operational Procedures, forms part of the Rules and is binding on all Participants. In case of conflict between the Rules and the Operational Procedures, the Rules shall prevail (except as otherwise provided in the Rules).
The operations of CCASS, the services and facilities available thereunder, and the procedures to be followed by Participants, are set out in this document.
From time to time, the Operational Procedures may be amended and Participants will be informed of such changes by means of circulars to Participants and replacement pages of the Operational Procedures will be issued to Participants periodically.
Unless otherwise defined, terms defined in the Rules will have the same meanings when used in the Operational Procedures.