Criteria
(Please also see Chapters 3 & 4 of the Rules of The SEHK Options Clearing House Limited ("SEOCH"))
SEOCH has two different categories of Clearing Participantship, each of which has different requirements :-
| Direct Clearing - A participant which can register and clear its own and clients accounts. |
- be an Options Trading Exchange Participant of SEHK.
- have in place procedures and a back office computer system appropriate to the type of SEOCH Participant applied for.
- have a liquid capital of not less than the higher of :-
(a) its required liquid capital under the Financial Resources Rules; or
(b) HK$5,000,000.
- contribute HK$1,500,000 to the Reserve Fund referred to in Chapter 3 of the SEOCH Rules.
| General Clearing - A participant which can register and clear its own account, its clients' accounts and other Options Trading Exchange Participants' own and clients' accounts. |
- must be an Options Trading Exchange Participant of SEHK.
- have in place procedures and a back office computer system appropriate to the type of SEOCH Participant applied for.
- have a liquid capital of not less than the higher of :-
(a) its required liquid capital under the Financial Resources Rules; or
(b) HK$20,000,000.
- contribute HK$5,000,000 to the Reserve Fund, with an additional HK$1,500,000 in respect of each Clearing Agreement entered into with Options Trading Exchange Participants from the fourth agreement onwards referred to in Chapters 3 and 4 of the SEOCH Rules.
Other than the above criteria, an applicant shall also demonstrate that:-
- its shareholders and directors are fit and proper.
- its has adequate operation and risk management control.
The above is for information only and shall not be regarded as comprehensive.¡@ In the event of inconsistencies and/or conflicts between these information and the rules of HKFE, SEHK, HKCC, HKSCC and SEOCH (collectively as the "Rules"), the Rules shall prevail.
For enquiries, please contact Participant Services, Cash Market of HKEx at (852) 2840-3657.