To provide investors with more channels to get information about its operations, Hongkong Clearing has placed The Investor's Guide to CCASS as a separate section on its website. CCASS is the Central Clearing And Settlement System operated by Hongkong Clearing.

The Guide, which can be accessed at http://www.hkex.com.hk, offers investors an easy-to-grasp introduction into the services and charges of CCASS.

Written in a clear and concise style, the new Guide provides investors with an overview of the clearing and settlement aspects of securities trading in Hong Kong and the operations of CCASS.

Service charges are obviously a subject of concern for every investor, and here the Guide offers helpful examples of how such charges are calculated and collected. Investors can learn how the stock settlement fee, stock withdrawal fee, or the registration and transfer fee is charged to their brokers or custodians, who may pass on the fees together with other administrative costs to the investors.

For those who have a specific query, the Guide offers a practical section of answers to the most commonly asked questions. Investors will discover why it is that brokers may demand immediate payment for executed orders even though settlement takes place on T+2, and why CCASS charges registration and transfer fees even when a listed company has not announced a book-close day.

For investors who keep physical shares, the Guide advises how they should avoid paying the expensive handling charges for unclaimed entitlements and the time-consuming claim procedures when they withdraw shares from the CCASS Depository. 

True to its intention of bringing more people to an understanding of our financial markets, the Guide also includes a chapter on the Investor Account Service which will be of particular interest to investors wanting to enjoy the benefits offered by the Service. How various fees of the Investor Account Service, such as the Investor Settlement Instruction stock settlement fee and the stock custody fee, are calculated and charged to Investor Participants are again explained with easy-to-understand examples. The website also contains a separate section entitled "Investor Participation in CCASS" which covers all the information on the Investor Account Service.

In addition to the website entry, printed copies of the Guide may also be obtained from the Company's Investor Service Centre (19/F Chinachem Exchange Square, 1 Hoi Wan Street, Quarry Bay, Hong Kong) and the Service Counters Hall of the CCASS Depository (2/F Vicwood Plaza, 199 Des Voeux Road Central, Hong Kong). 

From mid-August, the "Operations and Fees" section of the Guide will also be available through the fax-on-demand service offered by the 24-hour Investor Service Enquiry Hotline at 2979 7000. Investors connected to the Hotline during office hours are also welcome to press"0"at any time to talk to our Customer Service Representative for enquiry and assistance. Hongkong Clearing also plans to incorporate the information of the "Operations and Fees" section into the voice messages of the Hotline for investors who prefer listening to the information.

Launched in March last year, and attracting over 190,000 visitors since then, Hongkong Clearing's website features various sections about the Company and CCASS. Popular sections include "What's New", "About Hongkong Clearing and CCASS", "Clear Talk" (the Company's bimonthly news bulletin) and "Investor Participation in CCASS".