Denmark: Financial Sector Assessment Program: Detailed Assessment of the Securities Clearance and Settlement Systems

International Monetary Fund

No 2007/117, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Detailed Assessment of the Securities Clearance and Settlement Systems for Denmark. The assessment recommends that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdiction. Confirmation of trades between market participants should occur as soon as possible after trade execution, but no later than trade date (T+0). Where confirmation of trades by indirect market participants is required, it should occur as soon as possible after trade execution, preferably on T+0, but no later than T+1.

Keywords: ISCR; CR; settlement cycle; bond issue; VP settlement account; cash settlement; clearing rule; securities lending; VP system; replacement cost; standing VP committee; comments VP; DVP procedure; VP participant; Securities; Securities settlement systems; Central securities depositories; Currencies; Collateral; Baltics (search for similar items in EconPapers)
Pages: 48
Date: 2007-03-23
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