Creation Link Guide - Hong Kong - China Connect securities

20.11.2017

China A-shares via Stock Connect

Key services

Yes/No

Remarks

Settlement free of payment

Yes 

Please refer to specific settlement rules / settlement restriction under Settlement services.

Settlement against payment

Yes

Eligible settlement currency: Chinese Renminbi (RMB).

Bridge settlement

No

 

Shaping facility

No

 

Partial settlement

No

Not market practice but is permissible with special arrangements.

Settlement penalty fees

Yes

Please refer to Settlement Process.

Pre-matching

Yes

Only on Settlement Date. Occurs upon receipt of customers’ instructions and is subject to counterparty availability.

Back-to-back processing

No

 

Allegements

Yes

 

Automatic compensation

No

 

Registered securities

Yes

Multi Market Securities

No

 

Lending and borrowing

No

 

Proxy voting

Yes

Investment Funds

No

 

Liquidity Hub Connect

No

 

Sale and purchase of rights

No

 

Repo services

No

 

Market restrictions

Yes

Please refer to Investment regulation.

FTT

Yes

Stamp duty incurred.

FATCA GIIN

No

 

Type of Link

 

CSD or Settlement method

Indirect via Citibank N.A. (Hong Kong Branch) - hereinafter referred to as Citibank

 

Hong Kong Securities Clearing Company Ltd, operating CCASS

 

 

China Bonds via Bond Connect

Key services

Yes/No

Remarks

Settlement free of payment

No

Please refer to specific settlement rules / settlement restriction under Settlement services.

Settlement against payment

Yes

Eligible settlement currency: Chinese Renminbi (RMB).

Bridge settlement

No

 

Shaping facility

No

 

Partial settlement

No

Settlement penalty fees

Yes

Please refer to Settlement Process.

Pre-matching

Yes

Only on Settlement Date. Occurs upon receipt of customers’ instructions and is subject to counterparty availability.

Back-to-back processing

No

 

Allegements

No

 

Automatic compensation

No

 

Registered securities

Yes

Multi Market Securities

No

 

Lending and borrowing

No

 

Proxy voting

No

Investment Funds

No

 

Liquidity Hub Connect

No

 

Sale and purchase of rights

No

 

Repo services

No

 

Market restrictions

Yes

Please refer to Investment regulation.

FTT

No

FATCA GIIN

No

 

Type of Link

 

CSD or Settlement method

Indirect via Citibank N.A. (Hong Kong Branch) - hereinafter referred to as Citibank

 

Hong Kong Monetary Authority, operating the CMU system