Federal Register :: Self-Regulatory Organizations; The Options Clearing Corporation; Notice of No Objection to Advance Notice Related to an Expansion of The Options Clearing Corporation's Non-Bank Liquidity Facility Program as Part of Its Overall Liquidity Plan
In September 2007, the government revealed that it had increased its stake in HKEX from 4.41 percent to 5.88 percent. According to market sources, the Government spent HK$2.44 billion to buy 15.72 million shares in the company. The stake would be held by the Exchange Fund as a "strategic asset". At HKEX we are committed to the highest standards of corporate governance and recognise that good governance is vital for the long-term success and sustainability of our business. Any outstanding unsettled net stock positions of a Participant at the end of a settlement day are carried forward to the next settlement day and continuously netted against any opposite stock positions due for settlement in the same security. OCC would use Eligible Securities that are included in Clearing Fund contributions by Clearing Members and margin deposits clearing company of any Clearing Member that has been suspended by OCC for the repurchase arrangements. OCC Rule 1006 and OCC Rule 1104 authori...