Securities settlement system: Difference between revisions
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imported>Doug Williamson m (Spacing 20/8/13) |
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(SSS). A system which permits the transfer of securities: either free of payment, such as free delivery (for example in the case of pledge), or against payment. | (SSS). | ||
A system which permits the transfer of securities: either free of payment, such as free delivery (for example in the case of pledge), or against payment. | |||
Settlement of securities occurs on securities deposit accounts held with a Central Securities Depository (private CSDs or a central bank acting as a CSD) or with a central bank (safe custody operational accounts). | |||
In the latter case, the central bank acts as the intermediate custodian of the securities. The final custodian is normally a CSD. | |||
Settlement of cash occurs in an interbank funds transfer system (IFTS), through a settlement agent. | Settlement of cash occurs in an interbank funds transfer system (IFTS), through a settlement agent. | ||
== See also == | == See also == | ||
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* [[Custodian]] | * [[Custodian]] | ||
* [[Interbank Funds Transfer System]] | * [[Interbank Funds Transfer System]] | ||
Revision as of 11:49, 20 August 2013
(SSS).
A system which permits the transfer of securities: either free of payment, such as free delivery (for example in the case of pledge), or against payment.
Settlement of securities occurs on securities deposit accounts held with a Central Securities Depository (private CSDs or a central bank acting as a CSD) or with a central bank (safe custody operational accounts).
In the latter case, the central bank acts as the intermediate custodian of the securities. The final custodian is normally a CSD.
Settlement of cash occurs in an interbank funds transfer system (IFTS), through a settlement agent.
