CCASS Depository
The Central Clearing and Settlement System (CCASS) Depository is operated by the Hong Kong Securities Clearing Company (HKSCC), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX).
The CCASS Depository provides secure depository and custody services, enabling Participants to deposit and withdraw eligible physical share certificates into CCASS for safekeeping and settlement purposes. Upon deposit into CCASS, physical share certificates are normally submitted to the relevant share registrars for re-registration in the name of HKSCC Nominees Limited. Once re-registered, the securities are held in safe custody and are freely transferable within CCASS. Participants are responsible for ensuring good title to all securities deposited, and any Defective Securities lodged with CCASS remain the responsibility of the depositing Participant.
Shares held in the CCASS are registered in the name of HKSCC Nominees Limited, and are fungible in nature, meaning they are not earmarked to any specific Participant. This arrangement does not affect the underlying beneficial ownership of the shares.