Hong Kong: Discontinuation of the sale of rights service


Clearstream Banking1 informs customers that effective

1 March 2023

the sale of rights service via corporate actions will be discontinued for the Hong Kong market. With the implementation of the Hong Kong Investor ID Regime (HKIDR), a Broker-to-Client Assigned Number (BCAN) will need to be assigned by the Relevant Regulatory Intermediary (RRI) for reporting purposes and be tagged to the order execution. Clearstream Banking’s local custodian, Citibank Hong Kong, has made the decision to withdraw the service in view of the new regulatory requirements resulting from HKIDR obligations.

Impact on customers

For new corporate action events created on or after 1 March 2023, customers who still wish to sell the rights in the Hong Kong market will need to arrange the sale directly with their brokers.
For any ongoing applicable events created before 1 March 2023, customer instructions received for events announced prior to the 1 March 2023 deadline, will still be processed even if the deadline provided in the event notification is after this date.

The exercise of rights service remains unchanged.

Further information

For further information, please contact Clearstream Banking Client Services or your Relationship Officer.

1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.