Friday September 25 2015

News Source: Global Exchanges

Focus: Other

Type: General




Hong Kong Securities Clearing Company Limited have announced following the launch of the Enhanced Pre-trade Checking Model (“SPSA”) and other CCASS service enhancements relating to Shanghai-Hong Kong Stock Connect on 30 March 2015, the introduction of further CCASS service enhancements in two stages, subject to the Securities and Futures Commission’s approval.

In addition, a further batch of enhancements is tentatively scheduled for implementation in April 2016, including the crucial enhancement for introducing an additional same-day RMB money settlement run for payments relating to China Connect Settlement Instructions (“SI”) settled on a DvP basis. This enhancement will offer SIs same-day settlement finality for both stock and money settlement, thereby reducing the overnight counterparty risk that may arise between the investors and brokers. Further details on this enhancement will be published at a later stage.

In connection with the first batch of Further CCASS Enhancements to be implemented in December 2015, HKSCC has published the relevant report/file specifications and sample files on the HKEx website.

HKSCC has also published on the website the system interface specifications required for northbound clearing under the proposed ShenzhenHong Kong Stock Connect, together with the relevant report/file specifications and sample files (the “Interface Specifications”) for Clearing Participants’ information since as part of HKSCC’s overall enhancement schedule for CCASS, the Further CCASS Enhancements will be implemented on top of the CCASS infrastructure which incorporates the Interface Specifications.

The Interface Specifications will be implemented in November 2015 ahead of the first batch of Further CCASS Enhancements, regardless of whether regulatory approvals have been given for the establishment of Shenzhen-Hong Kong Stock Connect by that time.

Click on the link above for further details.