Investors, either individuals, joint individuals or corporations, may apply to becoming an Investor Participants of HKSCC to enjoy the investor account services provided by HKSCC. Currently HKSCC provides the following investor account services to Investor Participants related to Eligible Securities other than China Connect Securities.
Deposit and Withdrawal of Share Certificates
Share certificates registered in the name of Investor Participants or HKSCC Nominees are accepted by HKSCC. Upon successful re-registration, the deposited shares are credited to the Stock Account of the Investor Participant and available for securities settlement inside CCASS. Investor Participants can also withdraw physical certificates from their credit stock balances.
HKSCC provides book-entry stock transfer facilities to all Investor Participants inside the Central Clearing And Settlement System (CCASS). Stock transfers can be initiated by either Investor Participants or non-Investor Participants (Clearing, Custodian, Stock Lender or Stock Pledgee Participants) as Investor Settlement Instructions (ISIs). There are two types of ISI:
- ISI (With Affirmation) is initiated by non-Investor Participants and required affirmation by Investor Participants.
- ISI (Without Affirmation) can be initiated by either Investor Participants or non-Investor Participants and affirmation is not required. This ISI must be a delivery instruction, settled on a Free of Payment (FOP) basis and an ISI (without affirmation) counterparty list must be maintained as well.
To effect money settlement to Hong Kong Interbank Clearing Limited, CCASS generates Electronic Payment Instructions (EPI), Direct Debit Instructions (DDI), Direct Credit Instructions (DCI) or CHATS (Clearing House Automated Transfer System) Payment Instructions. HKSCC acts as a facilitator of money settlements between Investor Participants and Brokers or Custodians which are CCASS Participants.
Comprehensive nominee services are provided to Investor Participants in respect of shares deposited into the CCASS Depository. For example, Investor Participants may vote on corporate actions and activities by giving their voting instructions to HKSCC. HKSCC will also collect benefit entitlements and distribute them to Investor Participants. For corporate actions or activities, such as rights issues and take-over offers, where Investor Participants are required to make decisions, HKSCC will inform them by activity statements of the corporate actions and the deadlines for giving instructions.
Investor Participants who wish to elect to receive scrip entitlements in lieu of cash dividend payments in respect of all future dividend entitlements with scrip option for the entire holdings of the selective stock(s) or all stocks can give Standing Instructions to HKSCC by submitting a prescribed request form to Customer Service Centre.
On the day following the execution of a stock, nominee or money transaction HKSCC will mail an activity statement to the Investor Participant. A monthly statement, detailing the Money Ledger and Stock Account movements for the past month and balances of all stocks in the Investor Account, will also be sent. Investor Participants who have selected not to receive the statements by mail can view the statements via CCASS Internet System.
HKSCC will arrange for the direct distribution of corporate communications, such as notices and annual reports, by listed issuers to Investor Participants.
Initial Public Offerings
Investor Participants can apply through the CCASS Phone System or CCASS Internet System for new shares from those Initial Public Offerings (IPOs) which accept the Electronic Initial Public Offering (EIPO) service. Alternatively, they can submit yellow application forms together with the subscription monies directly to issuers or their agents without going through Brokers or Custodians which are CCASS Participants. Upon successful application, the allotted shares will be credited directly to the Investor Account.
Tendering and Settlement of Exchange Fund Notes (EFN), Government Bonds, Specified Instruments and/or CMU Instruments
HKSCC has admitted EFN, Government Bonds, Specified Instruments and/or CMU Instruments into CCASS. Investor Participants may tender for, clear and settle such Notes or Instruments through CCASS.
Accessing CCASS via the Internet
Investor Participants will be able to access the Investor Account Service via the Internet. The Internet access facility will allow Investor Participants to obtain statements, view circulars, affirm and input ISIs, check account balances, enquire issuer announcements and participate in corporate activities, etc., in the comfort of their homes or anywhere in the world using a computer with an Internet connection.
Short Message Services (SMS)
HKSCC provides Short Message Services (SMS) for sending reminder messages to Investor Participants who subscribe to the service. Reminder messages include:
- ISIs inputted by Clearing, Custodian, Stock Lender or Stock Pledgee Participants required affirmation
- settled ISIs
- announcement summary and deadline for dividend election and voting instructions
- EIPO and tender announcements
- rejected transactions such as Direct Debit Instruction (DDI)
SMS is available within the local telecommunication network in Hong Kong only
Disclosure of Shareholding Information
Through the "Participant Shareholding Report" service (PSH) to listed issuers and the "CCASS Shareholding Search" service to the public, the CCASS shareholding details, including the names, addresses, and shareholding information of Investor Participants will be disclosed to the service users if they have given HKSCC their prior written consent to such disclosure.
For Investor Participants who have not given consent to such disclosure, (i) their addresses will be concealed from the PSH reports; and (ii) their shareholding will only be aggregated and displayed as a consolidated total without any of their identities to be shown to the public.