Securities settlement system: Difference between revisions
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imported>Doug Williamson m (Spacing 20/8/13) |
imported>Doug Williamson (Classify page.) |
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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. | 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). | 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. | In the latter case, the central bank acts as the intermediate custodian of the securities. The final custodian is normally a CSD. | ||
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* [[Custodian]] | * [[Custodian]] | ||
* [[Interbank Funds Transfer System]] | * [[Interbank Funds Transfer System]] | ||
[[Category:Cash_management]] | |||
[[Category:Financial_products_and_markets]] | |||
[[Category:Liquidity_management]] | |||
Latest revision as of 09:07, 2 July 2022
(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.
