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

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 117

Publication date: March 2007

ISBN: 9781451811148

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Investments and Securities-General , Money and Monetary Policy , 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

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Summary

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.