HKSCC's Clearing and Settlement Services During Typhoon Situation

The following is a short reminder on CCASS services during a typhoon situation. Please refer to CCASS Operational Procedures for detailed information.

Typhoon Signal No. 8 or Above		Settlement Arrangement
Hoisted	Lowered
Anytime	at or before 12:00 noon	The day will be treated as a settlement day. CCASS services will normally resume 2 hours after the typhoon no. 8 signal is lowered.
Anytime at or before 9:30 a.m.	after 12:00 noon	No CCASS services will be available for the day and such day will not be treated as a settlement day.
Anytime after 9:30 a.m.	-	The day will be treated as a settlement day. CCASS services will normally be terminated within 15 minutes, except for: Matching Settlement Instructions and batch settlement runs will continue to be processed in CCASS as normal; Settlement Instruction, Investor Settlement Instruction, Account Transfer Instruction, Delivery Instruction and Cash Prepayment Instruction related maintenance functions will continue to be available for use within 1 hour after the hoisting and will be terminated thereafter; Settlement Instruction, Investor Settlement Instruction, Account Transfer Instruction and Cash Prepayment Instruction related enquiry functions and such other enquiry functions will continue be available for use in accordance with their normal services hours; and In relation to money settlement services via CHATS Payment Instructions will continue to be available as normal; and CCASS reports will continue to be available for retrieval and printing in accordance with their normal services hours.
After 9:30 a.m. but at or before 3:00 p.m.	-	Matching of Settlement Instructions and batch settlement runs will continue to be processed in CCASS as normal. However, that day will not be treated as a "Settlement Day" for CCASS money settlement because the overnight clearing services of the Hong Kong Interbank Clearing Limited (HKICL) will not be available for the day. Hence, generation of CCASS money settlement instructions for the day will be deferred to the following business day upon resumption of CCASS.

HKSCC's Clearing and Settlement Services During Black Rainstorm

The following is a short reminder on CCASS services during a black rainstorm situation. Please refer to CCASS Operational Procedures for detailed information.

Black Rain Storm Warning		Settlement Arrangement
Issued	Ceased
Anytime before 9:00 a.m.	before or at 12:00 noon	The day will be treated as a settlement day. CCASS services will normally resume 2 hours after the removal of the warning.
	After 12:00 noon	No CCASS services will be available for the day and it will not be treated as a settlement day.
Anytime at or after 9:30 a.m.	-	Matching of Settlement Instructions and batch settlement runs will be processed in CCASS as normal and the day will be treated as a settlement day. Normal CCASS services will also be available.

 

Note :

CCASS services cut-off time for black rainstorm warning is 9:00 a.m., which conforms with the cut-off time of Hong Kong Association of Banks but differs from the securities trading arrangement (9:30 a.m.). If a black rainstorm warning is issued between 9:00 a.m. and 9:30 a.m. and ceased after 12:00 noon, that day will be treated as a settlement day, with normal CCASS services provided but there will be no trading for the day.

HKCC's Clearing and Settlement Services During Typhoon Situation

The following is a summary on HKCC services during a typhoon situation. Please refer to Clearing Rules and Procedures of HKCC for detailed information.

Typhoon Signal No. 8 or Above		Clearing and Settlement Arrangement
Hoisted	Lowered
Anytime at or before 9:00 a.m.	at or before 12:00 noon	Normal clearing and settlement services will resume 2 hours thereafter. Withdrawal requests will be accepted within 1 hour after the resumption of trading on the Exchange.
	After 12:00 noon	No clearing and settlement services will be available on that Business Day. In such event, money settlement will be effectuated prior to the resumption of trading on the Exchange on the first Business Day thereafter on which the Exchange is open for business. Failure to effectuate money settlement will subject an HKCC Participant to disciplinary action pursuant to Rule 510 and/or Rule 517. No withdrawal request will be accepted.
During normal working hours	-	Clearing and settlement services will discontinue two hours thereafter. If typhoon signal no. 8 hoisted prior to the deadline for withdrawal request (normally 11:00 a.m. on a Business Day), those withdrawal requests already submitted will be accepted as usual, subject to the availability of the applicable services of corresponding banks, CCMS and CCASS.

HKCC's Clearing and Settlement Services during Black Rainstorm

The following is a summary on HKCC services during a black rainstorm situation. Please refer to Clearing Rules and Procedures of HKCC for detailed information.

Black Rain Storm Warning		Clearing and Settlement Arrangement
Issued	Discontinued
	at or before 12:00 noon	Normal clearing and settlement services will resume 2 hours thereafter. Withdrawal requests will be accepted within 1 hour after the resumption of trading on the Exchange.
Anytime at or before 9:00 a.m.	after 12:00 noon	No clearing and settlement services will be available on that Business Day. In such event, money settlement will be effectuated prior to the resumption of trading on the Exchange on the first Business Day thereafter on which the Exchange is open for business. Failure to effectuate money settlement will subject an HKCC Participant to disciplinary action pursuant to Rule 510 and/or Rule 517. No withdrawal request will be accepted.
During normal working hours	-	Clearing and settlement services will continue to operate as usual subject to the Clearing House's discretion to suspend, in whole or in part, the availability of clearing and settlement services where particular circumstances warrant such suspension. If black rainstorm issued prior to the deadline for withdrawal request (normally at 11:00 a.m.), those withdrawal requests already submitted will be accepted as usual, subject to the availability of the applicable services of corresponding banks, CCMS and CCASS.

SEOCH's Clearing and Settlement Services during Typhoon Situation

The following is a summary on SEOCH services during a typhoon situation. Please refer to Operational Clearing Procedures for detailed information.

Typhoon Signal No.8 or Above		Clearing and Settlement Arrangement
Hoisted	Lowered
Before 10:00 a.m.	at or before 12:00 noon	The day will be treated as a settlement day for stock settlement purposes and the settlement process will be effected as normal. Full clearing functions will be available 2 hours after the typhoon signal no. 8 is lowered. Requests for deposit or withdrawal of collateral received before the cut-off time (11:00 a.m. ), the request will be processed on a best effort basis and subject to the availability of the applicable services of corresponding banks, CCMS and CCASS.
Before 10:00 a.m.	after 12:00 noon	The day will not be treated as a settlement day for stock settlement purposes. The settlement of pending stock transactions resulting from exercise or assignment transactions effected two trading days prior to the day will be extended by one trading day. No clearing functions will be available for the day. If the typhoon day happened on the expiry day, then the expiry day will be deferred to next business day for spot month series for participants to exercise. Requests for deposit or withdrawal of collateral received before the cut-off time (11:00 a.m.), the request will be processed on a best effort basis and subject to the availability of the applicable services of corresponding banks, CCMS and CCASS.
At or after 10:00 a.m.	-	The day will be treated as a settlement day for stock settlement purposes and settlement process will be effected as normal. All clearing functions will be available up to two hours after the typhoon signal issued. Requests for deposit or withdrawal of collateral received before the cut-off time (11:00 a.m. ), the request will be processed on a best effort basis and subject to the availability of the applicable services of corresponding banks, CCMS and CCASS.

SEOCH's Clearing and Settlement Services during Black Rainstorm

The following is a summary on SEOCH services during a black rainstorm situation. Please refer to Operational Clearing Procedures for detailed information.

Black Rain Storm Warning		Clearing and Settlement Arrangement
Issued	Discontinued
Before 9:00 a.m.	at or before 12:00 noon	The day will be treated as a settlement day for stock settlement purposes and the settlement process will be effected as normal. Full clearing functions will be available 2 hours after the discontinuation of the warning. Requests for deposit or withdrawal of collateral received before the cut-off time (11:00 a.m. ), the request will be processed on a best effort basis and subject to the availability of the applicable services of corresponding banks, CCMS and CCASS.
Before 9:00 a.m.	after 12:00 noon	The day will not be treated as a settlement day for stock settlement purposes. The settlement of pending stock transactions resulting from exercise or assignment transactions effected two trading days prior to the day will be extended by one trading day. No clearing functions will be available for the day. If the black rainstorm day happened on the expiry day, then the expiry day will be deferred to next business day for spot month series for participants to exercise. No deposit and withdrawal of collateral request will be processed for the day.
After 9:00 a.m. but before 10:00 a.m.	-	The day will be treated as a settlement day for stock settlement purposes and settlement process will be effected as normal. Requests for deposit or withdrawal of collateral received before the cut-off time (11:00 a.m. ), the request will be processed on a best effort basis and subject to the availability of the applicable services of corresponding banks, CCMS and CCASS.
At or after 10:00 a.m.	-	All clearing functions will continue to be available as normal business day. Requests for deposit or withdrawal of collateral received before the cut-off time (11:00 a.m.), the request will be processed on a best effort basis and subject to the availability of the applicable services of corresponding banks, CCMS and CCASS.