Tuesday April 8 2025
News Source: Global Exchanges
Focus: Clearing & Settlement
Type: General
Country: Hong Kong
On 7th April 2025, Hong Kong Exchanges and Clearing Limited (HKEX) announced that the securities market will be closed for business on 18 and 21 April 2025. To assure that safeguards are in place against market risk during this period when some of the major markets are open, pursuant to the HKSCC Operational Procedures Section 10.10A.5, an intra-day Margin call will be made on 17 April 2025.
Clearing Participants (CPs) are reminded to take note of the following arrangements:
Calculation and Collection of Intra-day Margin
- Intra-day Margin1 will be calculated based on all pending CNS stock positions at around 2:00 p.m. on 17 April 2025. The computation of intra-day Margin is the same as day-end Margin.
- For the intra-day Margin call, HKSCC will only collect the shortfall on Margin from CPs and there will be no refund of surplus cash over Margin.
- CPs are required to settle the intra-day Margin shortfall by 5:45 p.m. on 17 April 2025. All intra-day Margin shortfall will be collected by issuing Direct Debit Instructions to Designated Banks as part of the CCASS money settlement process to be settled via the evening interbank bulk settlement run on 17 April 2025.
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