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Becoming a HKCC Participant

Criteria

(Please also see Chapter II of the Rules of HKFE Clearing Corporation Limited ("HKCC"))

HKCC has two categories of Participantship, each of which has different conditions and privileges :-

1) General Clearing Participant ("GCP") - A participant which registers and clears trades for its own and clients accounts and on behalf of Non-Clearing Participants.
be an Exchange Participant of HKFE or be a registered institution which is registered to carry on Type 2 regulated activity under the Banking Ordinance (Chapter 155 of the laws of Hong Kong).
(if the applicant is not a registered institution) 
have a liquid capital of not less than the higher of :-
(a) its required liquid capital under the Financial Resources Rules; or
(b) HK$100,000,000 provided that if it has entered into valid clearing agreements with no more than five Non-Clearing Participants, an additional HK$20,000,000 for each Non-Clearing Participant after the fifth Non-Clearing Participant with which it has entered into a valid clearing agreement, subject to a maximum of HK$390,000,000.
  (if the applicant is a registered institution)
have Tier 1 capital under the Banking (Capital) Rules of not less than HK$390,000,000.

contribute HK$7,500,000 Participant Deposit to the Reserve Fund referred to in Chapter VII of the HKCC Rules.
     
2) Clearing Participant ("CP") - A participant which only registers and clears trades for its own and clients accounts.
be an Exchange Participant of HKFE.
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 Participant Deposit to the Reserve Fund referred to in Chapter VII of the HKCC Rules.

 

(*Note: HKCC imposes additional financial/capital requirement on new clearing participantship applications from time to time.  Before submitting your firm's application to HKCC/applying for relevant licence(s) from regulator, your firm is strongly advised to contact DCASS hotline (2979 7222) to understand the latest financial requirement.)

 

HKCC Participant Admission Criteria and Operational Requirements

Updated 13 Jun 2022