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.   
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(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.   
  
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.
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== See also ==
 
== See also ==
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* [[Custodian]]
 
* [[Custodian]]
 
* [[Interbank Funds Transfer System]]
 
* [[Interbank Funds Transfer System]]
 
 

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.


See also