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

March 23, 2007

Preview Citation

Format: Chicago

Denmark: Financial Sector Assessment Program: Detailed Assessment of the Securities Clearance and Settlement Systems, (USA: International Monetary Fund, 2007) accessed November 21, 2024

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.

Subject: Central securities depositories, Collateral, Currencies, Financial institutions, Financial markets, Money, Securities, Securities settlement systems

Keywords: Baltics, Bond issue, Cash settlement, Central securities depositories, Clearing rule, Collateral, Comments VP, CR, Currencies, DVP procedure, ISCR, Replacement cost, Securities, Securities lending, Securities settlement systems, Settlement cycle, Standing VP committee, VP participant, VP settlement account, VP system

Publication Details

Pages:

48
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/117
Stock No:

1DNKEA2007002
ISBN:

9781451811148
ISSN:

1934-7685

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