Financial Products & Associated Risk Management

CCASS Course 2 – Clearing and Settlement (Part I) 2023

*This is an updated version of TERFR23012001. This version has removed contents related to CCASS Logon and Logoff.


Central Clearing and Settlement System (CCASS) is a securities settlement system used within the Hong Kong Exchanges and Clearing Limited (HKEX) market system. To enable the participants to effectively use the CCASS, HKEX has developed 5 courses to equip them with the basic knowledge of the clearing and settlement operations of the securities clearing house.

Course 1 – Understanding of Securities Clearing and Settlement
Course 2 – Clearing and Settlement (Part I)
Course 3 – Clearing and Settlement (Part II)

Course 4 – Depository and Nominee System (DNS) - To be released
Course 5 – Fails and Risk Management - To be released

This course mainly covers the key features of the system and types of transaction including exchange and non-exchange trades.

This course is with Cantonese narration and supplemented with English materials.


On completion of this course, you will be able to:
- Identify the differences between Exchange and Non-Exchange Trades
- State the workflow of Exchange and Non-Exchange Trade settlements
- Describe the specific functions and mechanisms of Continuous Net Settlement (CNS), Isolated Trade (IT), Settlement Instruction (SI) and Investor Settlement Instruction (ISI)


This Course consists of 2 Modules:

Module 1 (1.5 hours):
1. Types of Transaction
2. Exchange Trades
­- CNS
­- IT

Module 2 (1.5 hours):
1. Non-Exchange Trades
­- SI
­- ISI

Who should attend

Responsible officers, operations staff (in particular back office settlement staff), sales staff and account executives of brokerage firms.


Relevant Subject
Type 1 - Dealing in securities
Trad. Chi / Cantonese,English
SFC:3.00, PWMA:3.00
All (Member & Non-Member): HK$900