CCASS provides matching of trade and settlement details between participants on a batch basis. CCASS Settlement Process Flowchart (pdf). CCASS Settlement Process Flowchart Physical: Note applicable. Exchange trades and trades between brokers/custodian banks and custodian banks are all . If clearing and settlement of GEM securities is done through CCASS, under the existing CCASS Rules and. Operational Procedures, Hongkong Clearing has the .

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Key laws and regulations of the relevant jurisdictions.

Where an applicant is capable of mitigating the risk, do not include a risk factor just because the applicant may not carry out the mitigation adequately.

A business model may be considered unsustainable due to a combination of factors, e. Contents Rules and Guidance Listing Rules.

All requests for non-disclosure of confidential information are considered on a case-by-case basis. The Exchange would determine, based on the specific circumstances of the case, the extent of disclosure required with a view to lrocess transparency of the operation of the specific gambling activity and the associated risks.

If this information is not available, this should be stated.

Date the transfer deed; Complete all the particulars; Sign as transferee; Have the signature witnessed; Send the deed and corresponding share certificates to the registrar; Pay the registration fee to the registrar for each flowcharr certificate. For instance, a premium listing on the London Stock Exchange would meet the “main market” definition.

Consequently, the Exchange will exercise its discretion to find an applicant suitable to list with a WVR structure sparingly. The issuer will demonstrate to the Exchange that it merits the continuing connected transaction at the time it is to be renewed and that the circumstances continue to justify the granting of the waiver for example if the business volume over the platform has sufficiently stabilised at that point so as to allow a monetary cap to be set. Listing Department IPO Transactions Team; the applicant’s directors, one representative of each of the applicant’s legal adviser, financial adviser and auditors; one representative from each sponsor, each sponsor’s legal adviser MB Rule 2B.


The sponsors need to perform the necessary and appropriate due diligence to ensure that information with regard to a “controlling shareholder” of a listing applicant set out in a listing document is true, accurate and complete in all material respects and not misleading or deceptive in any material respect.

Settlement process – Hong Kong

It may have a concern about the suitability of an issuer or its business for continued listing if, for example, the issuer’s activities are found to deviate significantly from its original business model or strategy or the commercial rationale for its listing set out in its listing application. The trade is oversold due to a clerical or calculation error. Step 3 Click the “Existing Case Number” button.

For the avoidance of doubt, if such information is available, it has to be disclosed when the AP-Vetting is submitted. Secondly, significant connected transactions will rpocess give rise to a concern as to whether they are designed to enable the applicant to meet the requirements of Flowcharrt Board Rule 8.

This approach is consistent with the policy rationale of Main Board Rule Payment between one and two months late: When payment is confirmed as received by HKICL, settlement is performed immediately by releasing the on-hold shares to the receiving participant.

After a draft listing document is prepared, step back and review it.

Listing Rules and Guidance – Guidance Letters

Relevant Rules and Requirements 2. Ownership continuity and control requirement. We have also reviewed the Group’s financial information for the [nine] months ended [x] and the comparative information the ” Interim Financial Information ” in accordance with the Hong Kong Standards on Review Engagements “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, subject to completion of the procedures highlighted in paragraph 2 above.

The information contained in it is incomplete and is subject to change which can be material. To alleviate congestion, the EXchange will accept an Application Proof with accountants’ reports covering a period shorter than the trading record period required under Listing Rules the ” TRP ” for a listing application filed after the end of the most recent financial year of its TRP so long as the following information are included in the Application Proof and the confirmations set out in paragraphs 3.


The statement may give a misleading impression on the size of the applicant. Since the PRC Foreign Investment Law is still in draft form with no proposed date for implementation, the Exchange will continue to examine each case on its individual merits to determine whether the arrangements an issuer proposes will provide appropriate investor protection. For example, the management would solicit at least two other contemporaneous transactions with unrelated third parties for products in similar quantities to determine if the price and terms offered by a connected person are fair and reasonable and comparable to those offered by unrelated third parties.

The Exchange does not consider Mr. For example, the Accountants’ Report contains a lot of useful information, such as year-to-year revenue and expense breakdowns, and critical accounting policies which impact an applicant’s financial results.

Settlement process – Hong Kong

Relevant Listing Rules 3. Any consent by the Exchange will be based on the applicant’s specific facts and circumstances Updated in June Please contact [name of the sponsor’s responsible person] on [telephone number and email address].

Consider the business of the applicant and critically assess whether each piece of information needs to be disclosed. Overdraft Permitted Investors can go overdrawn in their flowcharg cash accounts.

Updated in June Where a person is a controlling shareholder, his majority vote as a controlling shareholder is likely to be decisive in the appointment of the directors of the applicant.