Clearing and Settlement (Stock Connect Northbound)

Clearing and Settlement Services

Fee Nature	Transaction Nature		Fee Amount
Stock clearing fee	China Connect securities trade		Nil
	SI transaction	SI input/amendment/revocation	HK$1 per input
	STI transaction	STI input by Clearing Participant or Custodian Participant(Movement of eligible securities of SSAs under the same participant)	HK$1 per input
Stock settlement fee	China Connect securities trade		Nil
	SI transaction	Broker-custodian transaction (with trade value data input)	0.002% of gross value of a SI transaction, subject to a minimum fee of HK$2 and maximum of HK$100 per side per SI transaction Notes: Gross value refers to input trade value
		Broker-custodian transaction (without trade value data input)	0.002% of gross value of a SI transaction, subject to a minimum fee of HK$2 and maximum of HK$100 per side per SI transaction Notes: Gross value refers to value calculated at nominal prices of the previous trading day.
		Other SI transactions (e.g. portfolio movement)
Transfer Fee	China Connect securities trade		0.002% of gross value of a China Connect Securities Trade Notes: This fee is in addition to any transfer fee payable by a China Connect Clearing Participant under Rule 14A11 and Rule 14B11 of the Rules of the Exchange.

Fee Nature	Transaction Nature		Fee Amount

Notes:

SI-Settlement Instruction

STI-Stock Segregated Account Transfer Instruction

Concessions on stock clearing and settlement fees may be granted to participants for portfolio transfers involving SI transactions due to change of business. A discount in stock clearing fee and stock settlement fee may be granted to Participants, on written application by Participants, for SI Transactions due to such reasons as may be specified by HKSCC from time to time.

Please refer to section 21 of CCASS Operational Procedures for the complete fee schedule of HKSCC.

Electronic Money Settlement Services

Fee Nature	Transaction Nature	Fee Amount
Money settlement fee	China Connect securities trade	HK$0.50 for HKD items, CNY items and USD items for each CPI issued by HKSCC for transactions settled on a DVP basis
Money settlement fee	SI transaction	HK$0.50 for HKD items, CNY items and USD items for each EPI issued by HKSCC for transactions settled on a DVP basis
	Other miscellaneous amounts to be paid to or collected from participants (e.g. mainland settlement deposit and mainland security deposit)	HK$0.50 for HKD items, CNY items and USD items for each DDI/DCI issued by HKSCC
Cash prepayment service fee	For releasing securities-on-hold at the request of a China Connect Clearing Participant	HK$100 per cash prepayment instruction processed

Fee Nature	Transaction Nature	Fee Amount

Notes:

SI - Settlement Instruction

DDI - Direct Debit Instruction

DCI - Direct Credit Instruction

EPI - Electronic Payment Instruction

DVP - Delivery versus Payment

Please refer to section 21 of CCASS Operational Procedures for the complete fee schedule of HKSCC.

Depository and Nominee Services

Fee Nature	Transaction Nature	Fee Amount
Special Segregated Account Maintenance Fee	A full month’s fee will be charged for the months of opening and closing such Special Segregated Account.	HK$50 per month per account Notes: This fee is waived until further notice.
Portfolio fee	For China Connect Securities held or recorded in CCASS.	Accrued daily at fixed cumulative percentage per annum on the total daily stock portfolio value of China Connect Securities per Participant. 0.008% per annum for the first HK$50 billion; 0.007% per annum for the next HK$200 billion (portfolio values above HK$50 billion and up to HK$250 billion); 0.006% per annum for the next HK$250 billion (portfolio values above HK$250 billion and up to HK$500 billion); 0.005% per annum for the next HK$250 billion (portfolio values above HK$500 billion and up to HK$750 billion); 0.004% per annum for the next HK$250 billion (portfolio values above HK$750 billion and up to HK$1,000 billion); 0.003% per annum for the remainder (portfolio values above HK$1,000 billion). Notes: Fee calculated on aggregate daily stock portfolio value in Stock Accounts of each Participant and collected on a monthly basis.

Fee Nature	Transaction Nature	Fee Amount

Notes: Please refer to section 21 of CCASS Operational Procedures for the complete fee schedule of HKSCC.

Updated 26 Feb 2018