Dual Counter definition

Dual Counter means the facility by which the Units of a Sub-Fund traded in RMB and traded in HKD are each assigned separate stock codes on the SEHK and are accepted for deposit, clearance and settlement in CCASS in more than one eligible currency (RMB or HKD) as described in the relevant Appendix of this Prospectus.

Dual Counter means, in respect of Listed Class of Units, the facility by which the Units of a Sub-Fund traded in two different currencies are each assigned separate stock codes on the SEHK and are accepted for deposit, clearing and settlement in CCASS in more than one eligible currency as described in Part 2 of this Prospectus.

Dual Counter means, in respect of a Listed Class, the facility by which the Listed Class Units of a Sub-Fund traded in RMB, HKD and/or USD (as the case may be) are each assigned separate stock codes on the SEHK and are accepted for deposit, clearing and settlement in CCASS in more than one eligible currency (RMB, USD or HKD) as described in the relevant Appendix of this Prospectus.

Examples of Dual Counter in a sentence

• Where a Sub-Fund has a Dual Counter, Units which are created must be deposited in CCASS as RMB counter Units (i.e. tradeable in RMB only) initially, and creation and redemption for all Units can be in cash (in RMB or in a combination of RMB and HKD) or in a combination of cash (in RMB) and in-kind (Securities) (please see the relevant Appendix for details).

• Notwithstanding a Dual Counter being adopted for a Sub-Fund, any cash payable by a Participating Dealer in a cash Creation Application can be in RMB or in a combination of RMB and HKD (or, in respect of a Sub-Fund, in such other currency as may be stated in the relevant Appendix).

• Subject to applicable regulatory requirements, the Manager will use its best endeavours to put in place arrangements so that there is at all times at least one Market Maker for Units traded in RMB and, if there is a Dual Counter, one Market Maker for Units traded in HKD and one Market Maker for Units traded in RMB.

• If the SEHK withdraws its permit to the existing Market Maker(s), the Manager will endeavour to ensure that there is at least one other Market Maker per Sub-Fund per counter to facilitate the efficient trading of Units of the relevant eligible currency (RMB or, if there is a Dual Counter, at least one other Market Maker to facilitate the efficient trading of Units in RMB and one other Market Maker to facilitate the efficient trading of Units in HKD).

• It suggests that firms of all sizes with patented technologies are more likely to become successful enough to go public than firms that do not patent.

• Where indicated in the relevant Appendix in Part 2 of this Prospectus, Units in a Sub-Fund may be available for trading on the SEHK using a Dual Counter.

• If the SEHK withdraws its permit to the existing Market Maker(s), the Manager will endeavour to use its best endeavours to put in place arrangements so that there is at least one other Market Maker per Sub-Fund per counter to facilitate the efficient trading of Units of the relevant eligible currency (RMB or, if there is a Dual Counter, at least one other Market Maker to facilitate the efficient trading of Units in RMB and one other Market Maker to facilitate the efficient trading of Units in HKD).

• Further details relating to market making arrangement (including market making arrangement where Dual Counter is adopted) are described in Part 2 of this Prospectus.

• Where a Dual Counter has been adopted in respect of a Sub-Fund the Manager will ensure that there is at least one RMB Counter Market Maker for RMB counter and one HKD Counter Market Maker for HKD counter although these Market Makers may be the same entity.

• Where a Dual Counter has been adopted it is a requirement that the Manager ensures that there is at all times at least one market maker for Units traded in the RMB counter and at least one market maker for Units traded in the HKD counter although these market makers may be the same entity.

More Definitions of Dual Counter

Dual Counter means the facility by which the Units of a Sub-Fund traded in HKD and traded in USD are each assigned separate stock codes on the SEHK and are accepted for deposit, clearing and settlement in CCASS in more than one eligible currency (HKD or USD) as described in Part 2 of this Prospectus.

Dual Counter means a Multi-Counter facility under which Shares of a Sub-Fund are traded in two eligible currencies.

Dual Counter means the facility by which the Units of the Sub-Fund traded in dual-counter (i.e. two counters), each counter being assigned a separate stock code on the SEHK and are accepted for deposit, clearing and settlement in CCASS in more than one eligible currency.

Dual Counter means the facility by which the Units traded in HKD and traded in RMB are each assigned separate stock codes on the Stock Exchange and are accepted for deposit (for HKD traded Units only), clearing and settlement in CCASS in more than one eligible currency (HKD or RMB). Under the Dual Counter arrangement, RMB counter is not offered for primary creation and redemption. Only HKD traded Units may be created / redeemed by way of a creation / redemption application through a Participating Dealer;

Dual Counter means, in respect of Listed Class of Units, the facility by which the Units traded in RMB and traded in HKD are each assigned separate stock codes on the SEHK and are accepted for deposit, clearing and settlement in CCASS in more than 1 eligible currency (RMB or HKD) as described in the Prospectus.

Dual Counter means, in respect of a Listed Class of Units, the facility by which the Units of a Sub- Fund traded in two currencies (HKD and USD) are each assigned separate stock codes on the SEHK and are accepted for deposit, clearance and settlement in CCASS in more than one eligible currency (HKD and USD) as described in the relevant Appendix of this Prospectus.