Difference between revisions of "Securities settlement system"
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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). |
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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. | ||
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| + | 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). | ||
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| + | 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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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. | ||
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== See also == | == See also == | ||
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* [[Custodian]] | * [[Custodian]] | ||
* [[Interbank Funds Transfer System]] | * [[Interbank Funds Transfer System]] | ||
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Latest 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.
