Hongkong Clearing today (Tuesday) declared Win Successful Securities Limited a defaulter and suspended its CCASS participation due to the company's failure to meet its money obligations under the Continuous Net Settlement (CNS) system. The payment was due last night (Monday).

Hongkong Clearing pursuant to its default procedures will effect closing-out of the unsettled stock positions of Win Successful Securities Limited. The effect of this action is to arrive at a net sum payable by or to the defaulting Broker Participant. Shares which were allocated to Win Successful Securities Limited's account but had not been paid for will be sold at the prevailing market price. Hongkong Clearing will also effect buy-in to settle outstanding stock positions of Win Successful Securities Limited in CCASS.