ChinaClear joins HKEx’s central clearing and settlement system
The Hong Kong Securities Clearing Company (HKSCC) has admitted
the China Securities Depository and Clearing Corporation (ChinaClear) as an
ChinaClear sought admission to the Central Clearing and
Settlement System (CCASS) of HKSCC to enhance its efficiency and strengthen the
protection of mainland investors. As a result, ChinaClear will now be able to
perform specific custody functions.
"The admission of ChinaClear as a clearing agency participant
is significant as it holds all Shenzhen B shares in its custody," Charles
Li, CEO of Hong Kong Exchanges and Clearing (HKEx), HKSCC’s parent company,
"ChinaClear's inclusion in CCASS will be increasingly
important as more B share companies in the mainland convert their shares to H
shares and become part of our market."
Meanwhile, HKEx set several new records in its securities and
derivatives market in 2013, according to its market statistics.
Market capitalisation exceeded HK$24 trillion for the first
time, reaching its record of HK$24.3 trillion on 2 December 2013.
The turnover of exchange traded funds and real estate investment
trusts also reached record highs of HK$874.2 billion and HK$80.9 billion
In the derivatives market, the trading volume of H-shares index
futures and options, mini H-shares index futures and flexible H-shares index options
also made records.
According to HKEx, the total equity funds raised in the securities
market from 1 January 2013 to 13 December 2013 was HK$304.1 billion, of which, HK$125.8
billion was raised through IPOs and $178.3 billion from post-IPO fundraising.
During this time, the average daily securities market turnover was HK$63.1