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Service Expansion and Business Risk Control Presentation for ACG17 Conference

Service Expansion and Business Risk Control Presentation for ACG17 Conference. Terek Mak, Vice President Head of Cash Clearing Operations (Global Clearing Division) 20 October 2013. Roles of Hong Kong Securities & Clearing Company Limited (HKSCC).

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Service Expansion and Business Risk Control Presentation for ACG17 Conference

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  1. Service Expansion and Business Risk ControlPresentation for ACG17 Conference Terek Mak, Vice President Head of Cash Clearing Operations(Global Clearing Division) 20 October 2013

  2. Roles of Hong Kong Securities & Clearing Company Limited (HKSCC)

  3. Latest Service Expansion and Business Risk Control Highlights 3

  4. Settlement Finality on Value Date T+3 Finality - Before T+2 Finality – Now In compliance with IOSCO Principle: clear and final settlement by the end of the value date.

  5. Multi-currencies DVP Settlement

  6. Risk Management Reform: New Framework - Projected Loss Supported by Financial Resources • For all three clearing houses • Funded solely by HKEx • Third line of support Implemented in November 2012 Risk Management Capital • Rationale: • Global Financial crisis • Stability & competitiveness • Global trend • IOSCO compliance Projected Loss Dynamic GF/RF(New) • Dynamic vs. Static nature • Cover extreme but plausible market price movement • Can be used for others’ default • Determined by market activities Fixed GF/RF • First line of support • Cover normal market price movement • Can only be used against CPs’ own default • Directly associated with CPs’ own activities Margin (New)

  7. Scripless Securities Market

  8. In Sync with International Practice & Compliance

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