Settlement times - Hong Kong - China Connect securities

05.02.2018

The deadlines shown below are valid provided that the customer's instructions are complete, accurate and eligible for straight-through processing (STP) in CBL and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, CBL cannot guarantee timely settlement.

Important Note: As part of CBL’s internal compliance procedures, all incoming customer instructions will be automatically scanned before entering transaction processing.  Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the Customer via their chosen media channel(s), until either being manually released for processing or rejected.  In order to ensure that instructions being investigated do not miss the applicable deadlines, Customers are advised to input instructions at least 15 minutes before the associated deadline.

Public holidays

For both Stock Connect and Bond Connect, the settlement period is affected by public holidays in China and Hong Kong.

Settlement times in Central European Time (CET)

25 March 2018 - 27 October 2018

Instruction

Provisioning

Deadline for receipt of valid instruction

Expected settlement results

start

end

from

to

value

AP=Against payment FOP=Free of payment SD=Settlement date

Stock Connect China A-shares

Receipts

FOP

21:30
SD-2

11:55
SD

11:55
SD

13:15
SD

14:30
SD

AP

21:30
SD-1

11:55
SD

11:55b
SD

13:15

SD

14:30
SD

SD

Deliveries

FOP

21:30
SD-2

10:40
SD

10:40
SD

11:30
SD

14:30
SD

AP

21:30
SD-1

10:40
SD

10:40b
SD

11:30
SDa

14:30
SD

SD

Bond Connect

Receipts

AP

02:00
SD-1

01:35
SD

01:35c
SD

10:00
SD

11:30
SD

SD

Deliveries

AP

02:00
SD-1

01:35
SD

01:35
SD

10:00
SD

11:30
SD

SD

a. For deliveries against payment, cash confirmation will be executed on T+1 from 09:30 HKT with back value to T. Please see Stock Connect - Cash Settlement under Settlement services.
b. For RDP settlement, the settlement deadline will be 08:55 CET winter / 09:55 CET summer. Please see Stock Connect - RDP settlement under Settlement services.

c. Funding must be sighted by the settlement deadline. Please see Bond Connect - Cash Funding and Settlement under Settlement services.

29 October 2017 - 24 March 2018

Instruction

Provisioning

Deadline for receipt of valid instruction

Expected settlement results

start

end

from

to

value

AP=Against payment FOP=Free of payment SD=Settlement date

Stock Connect China A-shares

Receipts

FOP

21:30
SD-2

10:55
SD

10:55
SD

12:15

SD

13:30

SD

AP

21:30
SD-1

10:55
SD

10:55b
SD

12:15
SD

13:30
SD

SD

Deliveries

FOP

21:30
SD-2

09:40
SD

09:40
SD

10:30
SD

13:30
SD

AP

21:30
SD-1

09:40
SD

09:40b
SD

10:30
SDa

13:30
SD

SD

Bond Connect

Receipts

AP

01:00
SD-1

00:35
SD

00:35c
SD

09:00
SD

10:30
SD

SD

Deliveries

AP

01:00
SD-1

00:35
SD

00:35
SD

09:00
SD

10:30
SD

SD

a. For deliveries against payment, cash confirmation will be executed on T+1 from 09:30 HKT with back value to T. Please see Stock Connect - Cash Settlement under Settlement services.
b. For RDP settlement, the settlement deadline will be  08:55 CET winter / 09:55 CET summer. Please see Stock Connect - RDP settlement under Settlement services.

c. Funds must be available by the settlement deadline. Please see Bond Connect - Cash Funding and Settlement under Settlement services.

Settlement times in Hong Kong Time (HKT)

All year

Instruction

Provisioning

Deadline for receipt of valid instruction

Expected settlement results

start

end

from

to

value

AP=Against payment FOP=Free of payment SD=Settlement date

Stock Connect China A-shares

Receipts

FOP

21:30
SD-1

17:55
SD

17:55
SD

19:15
SD

20:30
SD

AP

21:30
SD-1

17:55
SD

17:55b
SD

19:15
SD

20:30
SD

SD

Deliveries

FOP

21:30
SD

16:40
SD

16:40
SD

17:30
SD

20:30
SD

AP

21:30
SD

16:40
SD

16:40b
SD

17:30
SDa

20:30
SD

SD

Bond Connect

Receipts

AP

08:00
SD-1

07:35
SD

07:35c
SD

16:00
SD

17:30 SD

SD

Deliveries

AP

08:00
SD-1

07:35
SD

07:35
SD

16:00
SD

17:30 SD

SD

a. For deliveries against payment, cash confirmation will be executed on T+1 from 09:30 HKT with back value to T. Please see Stock Connect - Cash Settlement under Settlement services.
b. For RDP settlement, the settlement deadline will be 15:55 HKT. Please see Stock Connect - RDP settlement under Settlement services.

c. Funds must be available by the settlement deadline. Please see Bond Connect - Cash Funding and Settlement under Settlement services.