CCMS Collateral Account definition

CCMS Collateral Account has the same meaning as in the Clearing Rules.

CCMS Collateral Account means any account established in CCMS for a Participant other than an Investor Participant for debiting and crediting collateral, as referred to in Rule 601A. For the purposes of the Rules and the Operational Procedures, unless otherwise specified, the term “CCMS Collateral Account” does not include an account established in CCMS for a Participant by another Recognized Clearing House under its rules;

CCMS Collateral Account means any account established in CCMS for a Participant other than an Investor Participant for debiting and crediting collateral, as referred to in Rule 601A. For the purposes of the Rules and the Operational Procedures, unless otherwise specified, the term “CCMS Collateral Account” does not include an account established in CCMS for a Participant by another Recognized Clearing House under its rules;“CCMS House Collateral Account”means House Collateral Account 0001 established in CCMS for a Participant (other than an Investor Participant) or, in the case of a Clearing Agency Participant which is a China Connect Clearing House, for such Participant in respect of each Special Participant, as referred to in Rule 601A;“China Connect Securities Trade”means a trade in China Connect Securities (including Special China Connect Securities) executed on a China Connect Market through an SEHK Subsidiary under a Trading Link;“Clearing Links Agreement”means an agreement that is or may be entered into by HKSCC with a China Connect Clearing House relating to one or more Clearing Links (as may be amended, restated and/or supplemented from time to time);“Collateral Security”means an Eligible Security which is from time to time held by or deposited with HKSCC by a Participant for credit into the relevant CCMS Collateral Account of such Participant, in accordance with Rule 3601,3601A, 3603 or 3608;

Examples of CCMS Collateral Account in a sentence

• To the extent that the collateral in the SEOCH Participant’s relevant CCMS Collateral Account is insufficient, funds will be collected from the appropriate SEOCH Participant’s account with the Designated Bank or Settlement Bank by Direct Debit Instructions.

• The cover call request will be confirmed via DCASS if the quantity of underlying securities available in its CCMS Collateral Account is sufficient and upon confirmation, such underlying securities will be used as Specific Securities Collateral in CCMS.

• Any profits in excess of the Clearing House margin requirement will not be credited to the relevant CCMS Collateral Account of the HKCC Participant.

• Upon successful transfer, the Stock Collateral Control Account of the SEOCH Participant or the CCASS GCP, where applicable, in CCASS and the CCMS Collateral Account of the SEOCH Participant will be updated automatically and the securities balance in the CCMS Collateral Account of the SEOCH Participant will be immediately made available for use as securities collateral of the SEOCH Participant.

• Profits arising from the above “mark to market” mechanism will be used to offset against, while losses arising from such mechanism will be added to and collected as, Clearing House margin payable in respect of the relevant CCMS Collateral Account of the HKCC Participant.

• Upon verifying the availability of excess securities collateral in its CCMS Collateral Account, the SEOCH Participant may withdraw securities held in its CCMS Collateral Account by inputting a transfer instruction via a CCASS terminal to transfer securities from the SEOCH Participant’s CCMS Collateral Account to one of the Stock Accounts in CCASS maintained by that SEOCH Participant or the CCASS GCP, where applicable, other than the Stock Collateral Control Account.

• SEOCH will update the SEOCH Participant’s CCMS Collateral Account upon the transfer of such non-cash collateral.

• Unless otherwise determined by the SEOCH Board, the amount of cash in the Settlement Currency covering the margin requirement for each CCMS Collateral Account of a SEOCH Participant shall not fall below the minimum level prescribed by the SEOCH Board.

• These accounts are registered in the name of the HKCC Participant and are identified as the HKCC Participant’s (1) House CCMS Collateral Account, (2) Client CCMS Collateral Account(s), and (3) Market Maker CCMS Collateral Account(s).

• Profits and losses arising from this “mark to market” mechanism are credited to and debited from the relevant HKCC Participant’s CCMS Collateral Account each Business Day as the variation adjustment.

More Definitions of CCMS Collateral Account

CCMS Collateral Account means any account established in CCMS for a Participant other than an Investor Participant for debiting and crediting collateral, as referred to in Rule 601A. For the purposes of the Rules and the Operational Procedures, unless otherwise specified, the term “CCMS Collateral Account” does not include an account established in CCMS for a Participant by another Recognized Clearing House under its rules;“CCMS House Collateral Account”means House Collateral Account 0001 established in CCMS for a Participant (other than an Investor Participant) or, in the case of a Clearing Agency Participant which is a China Connect Clearing House, for such Participant in respect of each Special Participant, as referred to inRule 601A;

CCMS Collateral Account means an account established in CCMS for

CCMS Collateral Account means an account established in CCMS for each HKCC Participant for debiting and crediting collateral. For the purposes of the Clearing House Rules and the Clearing House Procedures, unless otherwise specified, the term “CCMS Collateral Account” does not include an account established in CCMS for an HKCC Participant by another Recognized Clearing House under its rules;

CCMS Collateral Account means an account established in CCMS for each SEOCH Participant for debiting and crediting collateral. For the purposes of these Clearing Rules and the Operational Clearing Procedures, unless otherwise specified, the term “CCMS Collateral Account” does not include an account established in CCMS by HKSCC or by HKCC under their respective rules;“CCMS Terminal User Guide”means the manual entitled “CCMS Terminal User Guide” relating to the operation of CCMS, as amended from time to time by SEOCH;“Chairman of the SEOCH Board”means the person from time to time holding the office of Chairman of the SEOCH Board or his designee;"Clearing Agreement"has the same meaning as in the Options Trading Rules;"Clearing Rules"means these rules of SEOCH, as from time to time in effect;"Client Contract"has the same meaning as in the Options Trading Rules;"closing contract"has the same meaning as in the Options Trading Rules;“CNS System”has the same meaning as in the CCASS Rules;"Commission"has the same meaning as in the Exchange Rules;"Contract"has the same meaning as in the Options Trading Rules;“controller”has the same meaning as in Part III of the Securities and Futures Ordinance;“Currency of the Contract”means the currency in which a Contract is traded;"Daily Margin"means the aggregate amount determined by SEOCH after System Closure on each trading day to be payable in respect of a SEOCH Participant’s open positions and delivery obligations as determined by SEOCH;;“DCASS”means the Derivatives Clearing and Settlement System operated by SEOCH and HKCC;“DCASS Agreement”means the subscription and license agreement in such form as may be prescribed by SEOCH from time to time and which is entered into between SEOCH and a SEOCH Participant entitling the SEOCH Participant to participate in DCASS in accordance with Chapter 11;