For effecting CCASS money settlement, each Participant must maintain a General Purpose Designated Bank Account in its own name and denominated in Hong Kong dollar (which may be a current account or other account approved by HKSCC from time to time) with a Designated Bank. Each Participant which wishes to settle money obligations in CCASS in an Eligible Currency other than Hong Kong dollar must maintain a Designated Bank Account in its own name and denominated in that Eligible Currency for the settlement of money obligations in CCASS.
All Participants must obtain their Designated Bank’s and HKSCC’s prior written approval for their use of their Designated Bank Accounts for CCASS money settlement.
For effecting EIPO money settlement, each Participant must select a Designated Bank that has registered as a FINI Bank as indicated in the list of Designated Banks below. Such Designated Bank shall maintain a nominee account for the sole purpose of holding its designating Participants' funds for the settlement of their money obligations in respect of EIPO.
The lists of banks which are approved by HKSCC as Designated Banks for Participants (other than Investor Participants) are as follows: