CCASS is listed in the World's largest and most authoritative dictionary database of abbreviations and acronyms The Free Dictionary You may also enter a CCASS Participant ID or CCASS Participant Name if you only want to search for the shareholdings of a particular CCASS Participant on the specified stock and date. HKEX's morning session runs from 09:00 am to 12:00 pm; the extended morning session is from 12:00 pm until 1:00 pm and the afternoon session is from 1:00 pm to 4:00 pm. CCASS is operated by Hong Kong Securities Clearing Co Ltd (HKSCC), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Ltd (HKEx, 0388). [12] In 1993 the exchange launched the "Automatic Order Matching and Execution System" (AMS) that was replaced by the third generation system (AMS/3) in October 2000. If the specified shareholding date is a Sunday or a Hong Kong public holiday, shareholding information on the preceding day which is not a Sunday or Hong Kong public holiday will be displayed. [25] Financial commentator Jake van der Kamp noted the Financial Secretary's conundrum: The government is faced with a conflict of interest, as its desire for an efficient marketplace is contrary to its desire as a shareholder, who would prefer to maximise returns. OTC Clear created OCASS, the OTC Clearing and Settlement System, for OTC Derivatives clearing and became the central counterparty for all clearing members. According to market sources, the Government spent HK$2.44 billion to buy 15.72 million shares in the company. 15 NOV 2019 Subscribe to a White Form eIPO [31] On 30 December 2008, the Listing Committee said it would not withdraw the new rule because it would "have a long-term benefit on the market. We will help you search and apply for your Ccass job and career opportunities. The clearing operation is based on the immobilisation of share certificates in a central depository. Citi Hong Kong provides a range of banking products for business and personal needs, which includes credit cards, loans, investments, wealth management & insurance. CCASS System Overview. At the time, JP Morgan was investigated by the US Securities and Exchange Commission and the US Department of Justice into possible violation of anti-bribery laws by improperly hiring relatives of Chinese officials, known as "princelings", to win business. [6] However, the first formal market, the Association of Stockbrokers in Hong Kong, was not established until 1891. Seventeen companies' shares lost more than 30 per cent of their value, and about HK$6 billion in market capitalisation was wiped off 105 listed companies. Hong Kong Securities Clearing Company Limited (“HKSCC”) is a recognised clearing house under the Securities and Futures Ordinance. Razack said HKEx did not consult widely enough and the process was a "black- box operation" that did not reflect industry opinion; David Webb said that the campaign was due to some well-connected tycoons and company directors' rearguard action to derail the rule change. ETFs and REITs) and structured products. * (1) If you are a CCASS Investor Participant, only a Hong Kong Identity Card number (if you are an individual) or a Hong Kong business registration number (if you are a body corporate) will be accepted for this application, please see paragraph 2 under the section “How to make your application”. Shareholding information displayed represents the shareholdings of CCASS Participants as at the end of the specified date. The Group also operates four clearing houses in Hong Kong: Hong Kong Securities Clearing Company Limited (HKSCC), HKFE Clearing Corporation Limited (HKCC), the SEHK Options Clearing House Limited (SEOCH) and OTC Clearing Hong Kong Limited (OTC Clear). Prior to the completion of the merger with HKFE in March 2000, the unified stock exchange had 570 participant organisations. HSBC Hong Kong offers a range of bank accounts with 24/7 online banking services for investments, insurance, credit cards, loans, mortgages and savings. There have been continued enhancements made to the RMB RTGS with a view to strengthening Hong Kong's offshore RMB market. A Volatility Control Mechanism (VCM),[17] which functions similarly to circuit breakers on US exchanges, was implemented in two phases on 22 August 2016 and 16 January 2017. For DVP transactions, the cash settlement is done through electronic payment instructions given by CCASS to the participants’ designated banks through the Hong Kong Interbank Clearing Ltd. (HKICL). As of the end of December 2020, there were 2,538 companies[4] listed on HKEX's securities market. Introduced in June 1992, CCASS was originally designed to serve primarily market intermediaries of the Hong Kong securities market, such as, brokers and custodians (CCASS Participants) who in turn act as mini-clearing houses for their clients. He said the purchase violated the government's stated principle of "big market, small government", adding that it increased uncertainty and sends a very negative signal to the market as a whole;[24] the Civic Party criticised the Government for damaging public confidence in the capital market, and interfering with the stock exchange's independence; a Wall Street Journal editorial said that the Hong Kong Government is further interfering in the market to "cozy up to China's tightly controlled domestic exchanges". CCASS SYSTEM OVERVIEW. Shenzhen-Hong Kong Stock Connect currently supports order placement over Securities Services Hotline only. Looking for online definition of CCASS or what CCASS stands for? Charles Li Xiao-jia to retire as CEO on 31 December 2020, and Calvin Tai Chi-kin will be appointed as interim CEO starting 1 January 2021. 11 Jan 2021. Webb-site is pleased to announce today's launch of new features in our extremely popular Webb-site CCASS Analysis System (WCAS) which tracks the movements of custody positions in the Central Clearing and Automated Settlement System (CCASS) run by Hong Kong Securities Clearing Co Ltd (HKSCC). When you use one of these combinations, the ALERT platform automatically populates the PSET field with the BIC of XHKCHKH. 11 Jan 2021. Rapid growth of the Hong Kong economy led to the establishment of three other exchanges - the Far East Exchange in 1969; the Kam Ngan Stock Exchange in 1971; and the Kowloon Stock Exchange in 1972. You may also request for CCASS shareholding information in the past 7 years by submitting written request to [email protected] The two exchanges merged to form the Hong Kong Stock Exchange in 1947 and re-establish the stock market after the Second World War. To start searching, please select a Shareholding Date and enter a Stock Code or Stock Name. The shareholding information of CCASS Participants and other information made available under this CCASS shareholding search facility is provided for your information only. [29] The previous blackout period is within one month of publication, and was considered by HKEx to "fail to ensure that insiders do not abuse the market while in possession of unpublished price-sensitive information". After settlement of the trade, Stock Connect shares are held by the brokers or custodians as clearing participants in the Hong Kong Central Clearing and Settlement System (“CCASS”), which is maintained Information will be provided in CD ROM or other formats and subject to a charge. This page was last edited on 22 January 2021, at 15:54. Hong Kong Securities Clearing Company Limited was incorporated in 1989. [9], After the New York Stock Exchange announced in November 2006 that it would open an office in Beijing to work with the Shanghai Stock Exchange, Hong Kong Exchanges and Clearing chairman Ronald Arculli dampened speculation, saying it has no immediate plans to acquire or merge with other exchanges, but would focus on "strengthening our competitiveness and reviewing our listing fees". Online banking services by Citi Hong Kong stock Connect in two stages, subject to SFC approval represents shareholdings! 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