Central Clearing and Settlement System (CCASS)资料共享 - 金融行业 - ITPUB论坛－专业的IT技术社区

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CCASS Real Time Delivery vs. Payment
Central Clearing and Settlement System (CCASS) was operated by Hong Kong Exchanges and Clearing Limited (HKEx), which is a computerized book-entry clearing and settlement system for transactions in securities listed on the HKEx. CCASS was originally designed to allow the HKEx to serve primarily market intermediaries such as brokers and custodians (CCASS Participants) who in turn act as mini-clearing houses for their clients. In recognition of investors’ desire to enjoy the benefits of the book-entry clearing and settlement system and to have legal and physical control over their shares, individual and corporate investors (Investor Participants) can open an investor account in CCASS.
Building upon the capability of the Real Time Gross Settlement systems in Hong Kong, the Delivery versus Payment (DvP) facilities for debt securities transactions have been extended to share transactions. A link between Hong Kong Interbank Clearing Limited and CCASS was set up in May 1998 to provide DvP facility for shares denominated in HKD in order to reduce settlement risks and improve settlement efficiency.