Clearing and Settlement Systems
Settlement

Settlement of securities at the Hong Kong Exchanges and Clearing (HKEx) takes place through the Central Clearing and Settlement System, which allows electronic book entries to participants' stock accounts. All trades are required to be settled on T+2. Hong Kong Interbank Clearing enables settlement of funds services on a Delivery versus Payment (DvP) basis if trades have been settled under a Continuous Net Settlement System.

Settlement in trading derivatives contracts through the HKEx requires a Client Margining System. The rules and guidelines for all HKEx settlement systems can be found by following the links provided below.

Trustee and Custodial Functions

Depository and custodianship services are provided by the Hong Kong Monetary Authority (HKMA)'s Central Money Markets Unit (CMU), as well as by the clearing and settlement operations of the Hong Kong Exchanges and Clearing (HKEx). Additional details on these services are available through the links below.