The Central Clearing And Settlement System (CCASS) is a computerised book-entry clearing and settlement system for transactions in securities listed on the Stock Exchange of Hong Kong. CCASS was originally designed to allow the Hong Kong Securities Clearing Company Limited (HKSCC) to serve primarily market intermediaries such as brokers and custodians, who in turn act as mini-clearing houses for their clients.

In recognition of investors' desire to enjoy the benefits of the book-entry clearing and settlement system and to have physical control over their shares, individual and corporate investors can now open an Investor Account in CCASS.

An Investor Account is in effect a depository account for share custody. Purchases and sales of stocks made by Investor Participants and the resulting settlements will continue to be handled by Brokers or Custodians which are CCASS Participants. Investor Participants will continue to manage the risks involved in the settlement process.

Investors participating in CCASS can:

	Control the movements of their shares deposited in CCASS
	Receive records of their shareholdings in CCASS
	Enjoy better legal protection of their shareholdings in CCASS
	Receive corporate information directly from listed issuers
	Enjoy a variety of communication channels, including the CCASS Phone System, the CCASS Internet System and the Customer Service Centre