单词 | Central Clearing and Settlement System |
释义 | 中央結算及交收系統 Abbr – CCASS The electronic book-entry clearing and settlement system implemented by the Hong Kong Securities Clearing Company Limited since 1992 for transactions in securities (including ordinary shares, preference shares, registered warrants, provisional allotment letters representing nil-paid rights and debt securities) listed on the Hong Kong Stock Exchange. Under the system, share certificates are deposited and recorded in the Central Securities Depository managed by the Hong Kong Securities Clearing Company. Stock transactions and money settlement are effected electronically. Apart from market intermediaries like brokers, custodians and stock lenders, individual investors are allowed to open accounts directly in CCASS. |
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