Clearing and Settlement Systems

1991 ◽  
pp. 267-283
Author(s):  
Julian Walmsley
Keyword(s):  
Settlement Systems ◽  
Clearing And Settlement

scholarly journals REFORM IN THE SECURITIES CLEARING AND SETTLEMENT SYSTEM REGULATION IN UKRAINE

2016 ◽  
pp. 65-73
Author(s):  
О. Vygovskyy
Keyword(s):  
International Standards ◽  
Securities Regulation ◽  
Market Regulation ◽  
Settlement System ◽  
Settlement Systems ◽  
Regulatory Standards ◽  
Harmonization Process ◽  
Recent Developments ◽  
Clearing And Settlement ◽  
Legislative Framework

Recent developments in the regulation of securities clearing and settlement system in Ukraine aimed at harmonization of Ukrainian securities legislation with the European and international regulatory standards are discussed in this article. Attention is focused on the key provisions of the Law of Ukraine “On Depository System of Ukraine” which has become one of the cornerstones of the legislative framework for the securities market regulation. These provisions are compared with the rules of UNIDROIT Convention on Substantive Rules for Intermediated Securities and the level of harmonization of the Ukrainian securities legislation with the international standards is evaluated. Particular attention is paid to the concepts of intermediated securities and intermediaries, the issues of transfer and exercise of the rights in securities and rights attached to securities under the specified Law are explored, as well as the insolvency of intermediaries and its effect on their relations with the securities account holders is scrutinized. Attention is also devoted to the regulation of netting in Ukraine and major innovation introduced in legislation in this respect. The outcomes of the author’s analysis are summarized and general comments are provided as to the degree of finality of harmonization process in the Ukrainian securities regulation and regulation of clearing and settlement systems.

scholarly journals Governance of Securities Clearing and Settlement Systems

2004 ◽  
Author(s):  
Daniela Russo ◽  
Terry L. Hart ◽  
Maria Chiara Malaguti ◽  
Chryssa Papathanassiou
Keyword(s):  
Settlement Systems ◽  
Clearing And Settlement

scholarly journals Determination by the Settlement Systems of the Required Collateral Imposed to Participants

2020 ◽  
Vol 14 (1) ◽  
pp. 925-939
Author(s):  
Laurentiu Paul Baranga ◽  
Iulian Zalinca
Keyword(s):  
Risk Management ◽  
Financial Markets ◽  
Capital Market ◽  
Financial Risks ◽  
Settlement System ◽  
Settlement Systems ◽  
Clearing And Settlement ◽  
Financial Transactions

AbstractThe dynamics of the increase in volume and amount of the financial or commercial transactions during the last decennials has amplified the role of clearing and settlement systems, along with the payment ones. From the quality of these systems as a financial markets stability provider also derives the concern for the management of financial risks mainly generated by the participants in these systems. The clearing-settlement systems, operated by infrastructure entities of the capital markets, ensure, within certain limits, a risk management for the incidents that could occur in the settlement activity regarding the financial transactions concluded between participants. We are going to present a methodology for determining the required collateral that must be maintained/updated by the debtor participants of a clearing-settlement system in order to ensure a robust management of the risks that could occur in the settlement operations. This methodology can be applied by any infrastructure entity of the capital market that manages collateral systems to limit the number of cases of settlement fails in financial transactions.

12. Principles of Payment

2018 ◽  
Author(s):  
Ross Cranston ◽  
Emilios Avgouleas ◽  
Kristin van Zweiten ◽  
Theodor van Sante ◽  
Christoper Hare
Keyword(s):  
Banking System ◽  
Settlement Systems ◽  
The Third ◽  
Legal Problems ◽  
Cash Payment ◽  
Payment Cards ◽  
Clearing And Settlement ◽  
Retail Payments ◽  
The Way

Payment and banking generally go hand-in-hand. Except for relatively small-value transactions, where cash, payment cards, and, increasingly, forms of e-money are used, payments are usually made through the banking system. This chapter analyzes some of the legal problems arising with payment through the banking system. The first section sketches the basic elements of payment and the way banks make payment. The second section turns to some specific issues — how payment obligations are discharged, whether payment instructions can be countermanded, the availability of funds to payees, and the completion of payment as between banks. The third section examines clearing and settlement systems. In the main the focus of this chapter is on large payments, rather than retail payments.

Part E Guarantees and Security, 35 Financial Collateral Arrangements

2015 ◽  
Author(s):  
Proctor Charles
Keyword(s):  
European Commission ◽  
Systemic Risk ◽  
Settlement System ◽  
Settlement Systems ◽  
Clearing And Settlement ◽  
The Stability ◽  
A Charge

When a charge is taken over cash or securities transferred or held in a recognized clearing and settlement system, the security position of the charge is in some respects reinforced. The European Commission has been concerned with managing systemic risk in such settlement systems. This chapter examines the two key measures to support the stability of such systems: firstly, the Directive on Settlement finality in Payment and Securities Systems; and, secondly, the Directive on financial collateral arrangement.

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