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Infrastructure

Infrastructure

DCASS stands for the Derivatives Clearing and Settlement System and serves as a single clearing settlement and risk management system for the HKFE Clearing Corporation Limited (HKCC) and The SEHK Options Clearing House Limited (SEOCH).

DCASS is a fully electronic and automated system capable of supporting various types of derivatives products such as equities foreign exchange interest rate and commodities.  It shares the same technology platform and infrastructure as the derivatives trading system Hong Kong Futures Automated Trading System (HKATS) and provides a seamless operational environment for derivatives trading and clearing.  DCASS processes clearing transactions in real-time and provides extensive access to clearing data to support the risk management functions.

CCMS stands for Common Collateral Management System which is used to manage the collateral holdings and obligations of Clearing Participants (CPs) of HKCC and SEOCH.  As an integrated part of CCASS system CCMS is serving both Securities and Listed Derivatives markets by accepting a wide range of collateral types and providing cross-market collateral management capability.

 

System Overview

 System Overview_Upgrade

Connection to DCASS

CPs can access to DCASS via HKEX’s Central Gateway in 2 ways: (i) using the browser based frontend application, namely DCASS Online; and/or (ii) using customized OMnet Application Programme Interface (OAPI).

By using OAPI, CPs can connect their back-office system to DCASS with straight-through-processing which can support high clearing volume.  As information from DCASS will be updated on real time basis, the direct host-to-host connection alternative provided by OAPI can help CPs to improve their operational efficiency and provide better risk management control.

CCMS Terminal

CPs can access CCMS through browser-based terminal CCASS or CCMS Terminal.  Any PC running supported versions of Microsoft Windows Internet Explorer and Java Runtime Environment is able to access all CCMS functions.


Updated 15 Jun 2017

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