Applying to xList

 

Admission for Clearing

	Exchange Traded Product issuers and trustees will have to apply to Securities Clearing Company (SCC) for the admission of the ETP units as eligible securities for deposit, clearing and settlement in Central Clearing and Automated Settlement System (CCASS) before the ETP is listed. Potential ETP issuers and trustees are advised to contact Exchange’s Clearing Division as early as possible in parallel with the process of seeking Securities and Futures Commission (SFC) authorisation.
	Service agent Conversion Agency Services (CAS) can act as a service agent for most Exchange Traded Notes(Fund Exchange Traded Products) tracking non-Local exchange equities and Leveraged and Inverse Products. As a service agent, CAS facilitates the book-entry deposit / withdrawal of the ETP units into / from CCASS for the ETP units created / redeemed outside CCASS. The ETP issuer, as a manager, trustee (or custodian as the case maybe), registrar, Participating Dealers (PDs) and its agent (where applicable) and any other relevant parties are required to sign a service agreement with Stock Exchange SCC and CAS.
	Conversion agent CAS can act as a conversion agent for most ETPs tracking Local equities. As a conversion agent, CAS facilitates the settlement of ETP unit creation and redemption instructions submitted by PDs via CCASS. A participation agreement (signed by the ETP issuer, trustee, PD, SCC, CAS and any other relevant parties) and a conversion agency agreement (signed by the ETP issuer, SCC and CAS) are required. Admission for Market Making After obtaining the SFC’s authorisation with conditions, ETP issuers are advised to contact Exchanges ETP team at ETP or Leveraged and Inverse (LI) Products  in relation to market making arrangements.