A Stock Segregated Account with Statement Service (SSA with Statement Service) is an account which a broker or custodian participant of Hong Kong Securities Clearing Company Limited (HKSCC), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), opens with HKSCC of which HKSCC is authorised to furnish activity and/or monthly statements to the investor(s) named and/or maintained by such broker or custodian participant in respect of that SSA with Statement Service and to allow such investor(s) to use the services available to the account. The Activity Statement will show any stock movement during the day in the SSA with Statement Service and the Monthly Balance Statement will show the statement date balances of all stocks in the SSA with Statement Service, including any zero balances.
Benefits to Investors
• The SSA with Statement Service facilitates brokers and custodians to record and report investors’ stockholdings separate from their own.
• Investors do not need to handle stock movements themselves following the execution of buy or sell orders. The investors’ brokers or custodians will administer the movements of stocks into and out of a SSA with Statement Service.
• Statements in English or Chinese provided by HKSCC give investors an additional record of their stock transactions conducted and stockholdings maintained by their brokers or custodians.
• Investors can check movements and balances of stocks in the SSA with Statement Service, give voting instructions and affirm stock transfers electronically through the CCASS Phone System and the CCASS Internet System.
• Investors can select to receive email or SMS alert messages on stock movement activities.
• Investors can select to affirm instructions before any movements of stock out of a SSA with Statement Service either on a ‘Free of Payment’ or ‘Delivery Against Payment’ basis.
• Investors receive corporate communications, including annual reports and notices of corporate activities, direct from share registrars.
Relationship between HKSCC, Clearing/Custodian Participants and Investors
The SSA with Statement Service is maintained by HKSCC for its participants who are brokers and custodians (Clearing Participants and Custodian Participants) in accordance with the General Rules of CCASS and the CCASS Operational Procedures.
Investors who are interested in opening SSA with Statement Service can contact their brokers or custodians who will advise the investors about the terms and conditions of opening of a SSA with Statement Service with HKSCC.
- Investor raises a SSA with Statement Service opening request to his/her broker or custodian.
- The clearing or custodian participant advises the investor about the terms and conditions of opening of a SSA with Statement Service with HKSCC.
- The clearing or custodian participant opens a SSA with Statement Service with HKSCC via CCASS/3 Terminal upon receipt of consent from the investor in complying with such terms and conditions and of details of a bank account the investor has opened with a CCASS designated bank if money settlement service is required.
- The clearing or custodian participant informs the investor about the details of the SSA with Statement Service upon successful account opening.
- The investor will be able to access the CCASS Phone System and create an internet account in the CCASS Internet System on the following day.
Frequently Asked Questions