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HONG KONG - Capital Market Infrastructure Summary

Central Securities Depositories
Hong Kong Securities Clearing Company
Central Clearing And Settlement System (CCASS)
Central Monetary Unit (CMU)

BIS Model
Model 1
Model 3

Settlement Cycle
T+2 for Equities
varies for Bonds and Cash

For equities, the T+2 settlement cycle requires prepayment for cash to achieve T+2, otherwise the cash element occurs one day later. Exchange trades are settled in the Central Clearing And Settlement System (CCASS) either through a Continuous Net Settlem

Key terms defined in our glossary:

Central Securities Depository
BIS Model 1
BIS Model 3
Settlement Cycle

The above information is written as a general guide only and is subject to change. Please refer to our 'Terms' page for more details.