Amendments to the Procedures and the introduction of the FINI T&Cs for the implementation of FINI, a mandatory platform for modernizing the IPO settlement process, and the introduction of a stock admission fee and a processing fee cap for new listings handled through FINI (effective from 22 November 2023) (Marked-up version of amendments attached for information)

Amendments relating to the offering by HKSCC of Synapse, an optional centralised platform and workflow tool which facilitates the simultaneous generation of settlement instructions and the provision of instantaneous updates of the processing status to Northbound Stock Connect market participants along the post-trade processing chain (effective from 9 October 2023) (Marked-up version of amendments attached for information)

Amendments for the purpose of the adoption of two-factor authentication in accessing CCASS Terminals by Clearing Participants and Designated Banks as referred to in the circular dated 24 August 2023 (Ref: CD/OES/CCASS/038/2023) (effective date from 25 September 2023) (Marked-up version of amendments attached for information)

Amendments for the purpose of facilitating the replacement of smartcard with two-factor authentication in accessing CCASS Terminals by Clearing Participants and Designated Banks (effective date from 12 June 2023) (Marked-up version of amendments attached for information)

Amendments for the purpose of facilitating the implementation of the HKD-RMB dual counter initiative by offering a new type of instruction (namely, the Intra-day Counter Transfer Instruction) to Participants to enable more efficient cross counter transfers of multi-counter securities within their Stock Clearing Account (effective from 19 June 2023) (Marked-up version of amendments attached for information)

Amendments for the purpose of facilitating an enhancement to the trading calendar for Stock Connect (effective from 24 April 2023) (Marked-up version of amendments attached for information)

Amendments for the purpose of implementing the VaR Platform, which is a risk engine adopting a new value-at-risk model for calculating the initial margin and a scenario-based approach for calculating default fund contributions for Clearing Participants and, where applicable, Clearing Agency Participants (effective from 13 June 2022) (Marked-up version of amendments attached for information)

Amendments for the purpose of implementing changes to the membership composition of the Participant Admission Appeals Committee of HKSCC (effective from 13 May 2022) (Marked-up version of amendments attached for information)

Amendments for the purposes of introducing a new service to allow participating dealers who are also CCASS Participants to input book-entry deposit and withdrawal orders through CCASS Terminals for exchange traded funds units created or redeemed outside of CCASS (effective from 25 April 2022) (Marked-up version of amendments attached for information)

Amendments for the purpose of providing two additional Corporate Representative/Proxy Batch Input Control Reports to Participants each day in order to provide more timely information to Participants to rectify any invalid instructions before any CCASS voting deadlines (effective date from 20 December 2021) (Marked-up version of amendments attached for information)

Amendments for the purpose of introducing an enhancement to CCASS to facilitate the processing of Stock Segregated Account Transfer Instructions in relation to Stock Connect (effective date from 11 October 2021) (Marked-up version of amendments attached for information)

Amendments for the purposes of introducing an optional and additional channel (on top of existing channels such as CCASS Terminals and Participant Gateways) for CCASS participants, who have subscribed for such service, to receive from HKSCC information on certain corporate actions in the form of electronic messages transmitted through SWIFT, and making certain housekeeping changes (effective date from 30 August 2021) (Marked-up version of amendments attached for information)

Amendments for the purpose of clarifying the conditions on which a clearing participant of HKSCC shall be excluded from a subsequent guarantee fund replenishment (effective date from 9 August 2021) (Marked-up version of amendments attached for information)

Amendments for the purpose of implementing the paperless initiative under which the relevant exchange or clearing house under Hong Kong Exchanges and Clearing Limited will (i) discontinue making available to a participant or other person hard copies of any rule book, user guide or rule update, and where applicable, (ii) discontinue issuing or re-issuing to a participant any certificate of participantship (effective date from 1 January 2021) (Marked-up version of amendments attached for information)

Amendments for the purpose of implementing a new service of HKSCC to facilitate the submission of requisitions to issuers of Eligible Securities (effective date from 21 December 2020) (Marked-up version of amendments attached for information)

Amendments for the purpose of facilitating settlement of certain Hong Kong dollar money obligations through the Hong Kong dollar settlement account (including a Clearing House Automated Transfer System ledger account operated by Hong Kong Interbank Clearing Limited) maintained by HKSCC with the Hong Kong Monetary Authority (effective date from 30 November 2020)  (Marked-up version of amendments attached for information)

Amendments for the purposes of (i) revising the grounds of buy-in exemption for Exchange Trades and China Connect Securities Trades; and (ii) implementing certain housekeeping changes (effective date from 16 November 2020) (Marked-up version of amendments attached for information)

Amendments for the purpose of introducing Master Special Segregated Account Services and under which fund managers, asset managers and investment managers will be able to have pre-trade checking on their sell orders conducted at an aggregate level (effective date from 10 July 2020) (Marked-up version of amendments attached for information)

Amendments for the purpose of facilitating a further enhancement of the third party clearing arrangement by allowing an Exchange Participant which is a clearing participant to self-clear its Exchange Trades and appoint a General Clearing Participant (“GCP”) for the clearing of its China Connect Securities Trades provided that it is itself not a GCP registered for the clearing of China Connect Securities Trades (effective from 20 April 2020) (Marked-up version of amendments attached for information)

Amendments for the purpose of implementing the recommended arrangements upon the announcement of “extreme conditions” by the Government under the “Code of Practice in Times of Typhoons and Rainstorms” issued by the Labour Department. In line with the recommended practice, the amendments provide that clearing services shall remain suspended even after cancellation of Typhoon Signal No. 8 if “extreme conditions” are in force, and shall only resume two hours after “extreme conditions” are cancelled (effective from 10 January 2020) (Marked-up version of amendments attached for information)

Amendments for the purposes of including: (i) enhanced ongoing information obligations for all Participants and an additional set of information obligations for General Clearing Participants which are registered institutions; and (ii) amendments to the events of default to enable HKSCC to call a default if a Participant defaults at another clearing and settlement system operated by HKEX or one of HKEX’s affiliates, or if HKSCC has concerns about the creditworthiness of an affiliated entity of a Participant (effective from 28 October 2019) (Marked-up version of amendments attached for information)

Amendments for the purpose of introducing a new buy-in exemption for Exchange Traded Product transactions. Under the exemption, a buy-in may be available to give Securities Market Makers one extra day in addition to the standard settlement period to cover any short positions resulting from their market making activities (effective from 4 July 2019) (Marked-up version of amendments attached for information)

Amendments for the purpose of (a) enhancing the recovery plan of HKSCC by (i) changing the provisions governing an existing recovery tool (Assessments); (ii) introducing a new recovery tool (Voluntary Recapitalization); (iii) introducing Contract Termination in order to re-establish a matched book after a Clearing Participant (CP) default; and (iv) refining the existing arrangements concerning financial resources replenishment; and (b) introducing close-out netting provisions in the event of an insolvency or failure to pay default of HKSCC (effective from 15 October 2018)  (Marked-up version of amendments attached for information)

Amendments for the purposes of (a) including in the Rules and the Procedures confidentiality obligations on those Clearing Participants which may receive from HKSCC information relating to a Defaulter as part of the default management process; and (b) revising the criteria for admission as a General Clearing Participant of HKSCC for those applicants which are registered institutions (effective from 1 June 2018) (Marked-up version of amendments attached for information)

Amendments for the purposes of (a) setting HKSCC’s contribution to the Guarantee Fund at 10% of the Guarantee Fund size; and (b) changing Clearing Participants’ contributions to the Guarantee Fund by prescribing a Guarantee Fund threshold and collecting additional margin (effective from 1 June 2018)   (Marked-up version of amendments attached for information)

Amendments for the purposes of (a) allowing CCASS Participants to provide USD and HKD as collateral for the early release of China Connect Securities that are Securities-on-hold; (b) requiring a short CCASS Participant to pay compensation should a long CCASS Participant suffer any loss in cash dividend entitlement as a result of any late delivery of securities by the short CCASS Participant; and (c) accepting non-listed securities as Eligible Securities in CCASS (effective from 14 May 2018)  (Marked-up version of amendments attached for information)

Amendments for the purpose of replacing the references to “AMS” in the Rules and the Procedures by “Exchange Trading System” in view of the introduction of the Orion Trading Platform – Securities Market (OTP-C) by The Stock Exchange of Hong Kong Limited (effective from 5 February 2018)  (Marked-up version of amendments attached for information)

Amendments for the purpose of implementing RDVP settlement enhancements and other China Connect-related enhancements relating to the automation of cash prepayment for China Connect Securities and the making available of the Participant Shareholding Category Disclosure Exception Report before the voting deadline. Certain house-keeping changes to clarify the scrip entitlement distribution processing schedule and new shares subscription deadline for the Shanghai and Shenzhen markets, to rectify the definition of “Delivery Instruction”, to remove certain obsolete reports and to clarify the availability of certain reports in CCASS (effective from 20 November 2017)   (Marked-up version of amendments attached for information)

Amendments to modify the Guarantee Fund triggering and collection mechanism (effective from 29 September 2017)   (Marked-up version of amendments attached for information)

Amendments for the implementation of participant admission appeal procedures (effective from 31 March 2017)   (Marked-up version of amendments attached for information)

Amendments for the purpose of implementing further enhancements to the CCASS services, which include (i) extending the ATI/STI upload function time and introducing new STI/ATI validation runs, (ii) allowing stocks to be transferred out of Special Segregated Accounts in the morning before the pre-trade stock balance snapshot is taken under Stock Connect, and (iii) introducing a new STI Batch-run.  Certain house-keeping changes have also been made to the Rules and Procedures to clarify HKSCC’s discretionary power to effect a buy-in for CCASS Participants (effective from 10 April 2017)   (Marked-up version of amendments attached for information)

Amendments to (i) enhancing the on-hold mechanism which may be imposed on delivery Settlement Instructions (“SI”) relating to China Connect Securities; (ii) allowing netting of Northbound collateral provided by a China Connect Clearing Participant; (iii)  introducing additional SI matching runs, an SI Batch-settlement-run for SPSA and a Stock Segregated Account Transfer Instructions Batch-run; (iv) introducing a new shareholding category disclosure function for China Connect Securities; (v) automating the calculation and collection of additional collateral in relation to a China Connect Clearing House; and (vi)making house-keeping changes in relation to the typhoon arrangement, service hours, participant gateways, operational forms and corporate rebranding from “HKEx” to “HKEX”) (effective from 16 January 2017)   (Marked-up version of amendments attached for information)

Amendments for the purpose of facilitating Hong Kong Securities Clearing Company Limited to comply with its obligations under the Automatic Exchange of Information requirements adopted under the Inland Revenue Ordinance (Cap. 112 of the Laws of Hong Kong) (effective from 3 January 2017)   (Marked-up version of amendments attached for information)

Amendments to facilitate the implementation of Shenzhen-Hong Kong Stock Connect (effective from 5 December 2016)   (Marked-up version of amendments attached for information)

Amendments for the automation of the calculation and collection of additional cash collateral for the Hong Kong market (effective from 18 July 2016)   (Marked-up version of amendments attached for information)

Amendments to introduce a money settlement run in Renminbi in the evening for Settlement Instructions in China Connect Securities on a same-day delivery-versus-payment basis. The amendments also cover the electronic submission of cash prepayment instructions for China Connect Securities to HKSCC and the enhancement of voting instructions processing through CCASS Terminals (effective from 18 April 2016)   (Marked-up version of amendments attached for information)

Amendments for the purpose of implementing certain CCASS service enhancements as announced by HKSCC in its circular dated 18 September 2015 (effective from 7 December 2015)   (Marked-up version of amendments attached for information)

Amendments to charge a separate transfer fee for the provision of clearing services for China Connect Securities by Hong Kong Securities Clearing Company Limited (effective from 3 August 2015)   (Marked-up version of amendments attached for information)

Amendments for the purposes of enhancing HKSCC’s risk management regime by (i) lowering the thresholds for triggering an ad hoc demand of Guarantee Fund contribution from the Clearing Participants; and (ii) increasing the size of the Guarantee Fund to provide a larger buffer against exposures (effective from 2 July 2015)   (Marked-up version of amendments attached for information)

Amendments to introduce an enhanced pre-trade checking model (effective from 30 March 2015)   (Marked-up version of amendments attached for information)

Amendments for the purpose of relocating CCASS Vault and Depositary operations from Infinitus Plaza to Exchange Square (effective from 10 November 2014)   (Marked-up version of amendments attached for information)

Further amendments to facilitate the implementation of Shanghai-Hong Kong Stock Connect (effecitve from 17 November 2014)   (Marked-up version of amendments attached for information)

Amendments to facilitate the implementation of Shanghai-Hong Kong Stock Connect (effecitve from 17 November 2014)   (Marked-up version of amendments attached for information)

Amendments for the termination of accepting bank guarantees as collateral (effective from 1 September 2014)   (Marked-up version of amendments attached for information)

Amendments to facilitate Hong Kong Securities Clearing Company Limited to comply with its obligations as a participating foreign financial institution under the U.S. Foreign Account Tax Compliance Act (effective from 1 July 2014)   (Marked-up version of amendments attached for information)

Amendments for the purposes of aligning them with the new Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Companies Ordinance”) and clarifying that reference to “share or stock splitting”, "sub-division” and “consolidation” also covers conversion of all or any existing shares into smaller or a larger number of shares to reflect the removal of the concept of “par value” for shares in respect of Hong Kong incorporated companies under the Companies Ordinance (effective from 26 March 2014)   (Marked-up version of amendments attached for information)

Amendments to implement a CCASS service enhancement which would facilitate the posting by CCASS participants of securities collateral by batch to cover their short CNS positions (effective from 16 December 2013)   (Marked-up version of amendments attached for information)

Amendments to (i) allow participants to submit instructions for confirmation of applications for new issue shares electronically; (ii) provide a file transfer function for participants to upload parallel trading conversion instructions to CCASS; (iii) allow participants to settle transfer instructions for electronic transfers between CCASS and the Central Moneymarkets Unit of the Hong Kong Monetary Authority on a delivery versus payment basis, in addition to the existing free of payment basis; and (iv) make miscellaneous changes for housekeeping purposes (effective from 4 February 2013)   (Marked-up version of amendments attached for information)

Amendments for the purposes of implementing the proposals to strengthen the risk management measures of Hong Kong Securities Clearing Company Limited and aligning the risk management arrangements across the three clearing houses of Hong Kong Exchanges and Clearing Limited. The amendments also include changes for housekeeping purpose (effective from 5 November 2012)   (Marked-up version of amendments attached for information)

Amendments for the purposes of implementing various enhancements to improve CCASS services to CCASS participants and effecting housekeeping changes (effective from 28 May 2012)   (Marked-up version of amendments attached for information)

Amendments for the purpose of enabling Hong Kong Securities Clearing Company Limited (“HKSCC”) to accept uncertificated securities issued by overseas-incorporated listed companies as Eligible Securities in CCASS  (effective from 20 October 2011) (Marked-up version of amendments attached for information)

Amendments for the purpose of setting up a new Equity Trading Support Facility (the “TSF”) to facilitate the secondary trading of shares in Renminbi on The Stock Exchange of Hong Kong Limited.  Hong Kong Securities Clearing Company Limited will act as the operator of the TSF (effective from 24 October 2011) (Marked-up version of amendments attached for information)

Amendments to enable HKSCC to accept securities of the same class of an issuer for deposit, clearance and settlement in CCASS in more than one currency under separate stock codes or trading counters.  The amendments also enable HKSCC to provide a service to all CCASS Participants including Investor Participants to effect cross-counter transfer of such securities (effective from 28 September 2011)  (Marked-up version of amendments attached for information)

Amendments to implement a T+2 finality arrangement for money settlement in CCASS (effective from 25 July 2011)  (Marked-up version of amendments attached for information)

Amendments to allow Hong Kong Securities Clearing Company Limited ("HKSCC") to settle market contracts in a currency or currencies other than the currency in which the relevant securities are accepted for trading and settlement (the "Eligible Currency") in situations where the Eligible Currency is not freely available or convertible in the market (effective from 7 June 2011)  (Marked-up version of amendments attached for information)

Amendments to update the office address of HKSCC as a result of the re-naming of the office building from “Vicwood Plaza” to “Infinitus Plaza” and to effect housekeeping changes (effective from 30 March 2011)  (Marked-up version of amendments attached for information)

Amendments to align with the extended trading hours of the securities market (effective from 7 March 2011)  (Marked-up version of amendments attached for information)

Amendments to (i) improve the third party clearing arrangements by removing the one-day prior written notice period requirement for the termination of a Clearing Agreement; (ii) simplify the requirement for the submission of Clearing Agreements by GCPs; and (iii) effect minor housekeeping amendments (effective from 22 November 2010)  (Marked-up version of amendments attached for information)

Amendments to enable operational readiness for the clearing and settlement of Renminbi denominated transactions in CCASS (effective from 13 September 2010)  (Marked-up version of amendments attached for information)

Amendments to the CCASS Operational Procedures to include the posting of information on the HKEx website as a means of communication between HKSCC and its participants (effective from 20 September 2010)  (Marked-up version of amendments attached for information)

Amendments to the CCASS Operational Procedures in relation to CCASS services enhancements (take effect from 12 July 2010)

Amendments to the CCASS Operational Procedures in relation to introduction of the term Market Making Security (take effect from 28 June 2010)

Amendments to the CCASS Operational Procedures in relation to the admission of unlisted structured products as eligible securities (take effect from 26 April 2010)

Amendments to the CCASS Operational Procedures in relation to renaming the current Disciplinary Appeals Panel as the Disciplinary Appeals Committee, changing the composition of the Disciplinary Appeals Committee and updating the title of the Clearing Business Unit to the Clearing Division (take effect from 11 December 2009)

Amendments to the CCASS Operational Procedures in relation to the elimination of certain minor fees (take effect from 1 January 2010)

Amendments to the CCASS Operational Procedures in relation to the admission of the Government Bonds (take effect from 20 August 2009)

Amendments to the CCASS Operational Procedures in relation to the suspension of closing auction session (take effect from 23 March 2009)

Amendments to the CCASS Operational Procedures in relation to CCASS services enhancements (take effect from 27 October 2008)

Amendments to the CCASS Operational Procedures in relation to increasing the default fee for failure to settle CNS short stock positions on due dates (take effect from 2 October 2008)

Amendments to the CCASS Operational Procedures in relation to Depositary Receipts (take effect from 1 July 2008)

Amendments to the CCASS Operational Procedures in relation to CCASS services enhancements and other miscellaneous matters (take effect from 28 April 2008)

Amendments to the CCASS Operational Procedures in relation to buy-in exemption and default fee (take effect from 23 January 2008)

Amendments to the CCASS Operational Procedures for the implementation of certain enhancements to CCASS and the introduction of third party clearing (take effect from 3 December 2007)

Amendments to the CCASS Operational Procedures for the implementation of certain enhancements to CCASS (take effect from 9 July 2007)

Amendments to the CCASS Operational Procedures in relation to the Guarantee Fund (take effect from 26 June 2007)

Amendments to the CCASS Operational Procedures for the implementation of certain enhancements to CCASS (take effect from 2 January 2007)

Amendments to the CCASS Operational Procedures in relation to CCASS services enhancements and the implementation of the 5-day clearing week (take effect from 4 September 2006)

Amendments to the CCASS Operational Procedures in relation to corporate actions service fee (take effect from 20 July 2006)

Amendments to the CCASS Operational Procedures in relation to enhancements to CCASS services and various housekeeping matters (take effect from 2 May 2006)

Amendments to the CCASS Operational Procedures in relation to Callable Bull/Bear Contracts (take effect from 27 March 2006)

Amendments to the CCASS Operational Procedures relating to the CCASS Services Enhancement and abolition of the Registration and Transfer Fee on Deemed Book Close Dates (take effect from 1 January 2006)

Amendments to the CCASS Operational Procedures relating to the enhancement of corporate actions processing, the automation of payments, enhancement of SI/ISI processing and the handling charge for registration and transfer fee concession applications (take effect from 8 August 2005)

Amendments to the CCASS Operational Procedures relating to the removal of the initial deposit requirement of the Investor Account Service (take effect from 1 July 2005)

Amendments to the CCASS Operational Procedures relating to further enhancements of Investor Participant account service (take effect from 4 April 2005)

Amendments to the CCASS Operational Procedures relating to (i) the provision of additional "Enquiry EIPO Total Application Quantity and Money Obligation" function to Participants (other than Investor Participants); and (ii) changes or deletions to names of the departments of Hong Kong Securities Clearing Company Limited (take effect from 6 December 2004)

Amendments to the CCASS Operational Procedures to allow the appointment of settlement agent by a CCASS Participant (take effect from 8 November 2004)

Amendments to the CCASS Operational Procedures relating to the enhancements to the Settlement Instruction matching process (take effect from 11 October 2004)

Amendments to the CCASS Operational Procedures relating to the enhancements to the services of the Central Clearing and Settlement System (take effect from 23 August 2004)

Amendments to the CCASS Operational Procedures relating to the handling charge for unclaimed entitlements and the basis for calculation of dividend collection fee (take effect from 1 June 2004)

Amendments to the CCASS Operational Procedures relating to the issue of retail bonds (take effect from 16 April 2004)

Amendments to the CCASS Operational Procedures relating to the implementation of the Derivatives Clearing And Settlement System (take effect from 6 April 2004)