China Securities Depository and Clearing Corporation becomes CCASS Clearing Agency Participant
Through its inclusion in CCASS, ChinaClear will be able to perform specific custody functions when acting as the nominee for H shares resulting from conversions of Shenzhen B shares to H shares approved by the China Securities Regulatory Commission. ChinaClear sought admission to CCASS to enhance its efficiency and strengthen the protection of Mainland investors.
“The admission of ChinaClear as a Clearing Agency Participant is significant as it holds all Shenzhen B shares in its custody,” said HKEx Chief Executive Charles Li. “ChinaClear’s inclusion in CCASS will be increasingly important as more B-share companies in the Mainland convert their shares to H shares and become part of our market.”