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6 results on '"CROSS-BORDER SETTLEMENT"'

2. Evolution of the Romanian post-trade environment: Embracing the new European post-trade realities.

Subjects
CENTRAL securities depositories, CLEARING of securities, FINANCIAL institutions, SECURITIES trading, FINANCIAL markets
Abstract

The article focuses on the preparations of the Romanian Central Securities Depository (CSD), Depozitarul Central SA, in facing the challenges and benefits of the new post-trade reality in Europe. The organization offers choices between omnibus and beneficial owner accounts and provides innovative solutions to its domestic and global clients. Depozitarul also employs innovative technologies, implements pan-European settlement platform, and continues to be a pioneer of securities services.

Published
2011

3. The race for European financial unity: Where is it going?

Author

Joël Mérère

Subjects
STOCK exchanges, SECURITIES, FINANCIAL markets, FINANCIAL services industry, ECONOMIC competition
Abstract

The financial world is indeed becoming a smaller place: just look at the flurry of merger activity that stock exchanges around the world have undergone in recent times. On the back of cross-border deals such as those between the New York Stock Exchange (NYSE) and Euronext, and the London Stock Exchange (LSE) and Borsa Italiana, what implications will there be for the capital markets at large? With the growth of globalisation, financial professionals can only expect greater complexities and more competition through innovation in the years ahead. Managing risks and costs in an increasingly cross-border environment is pivotal, particularly as more and more investors are looking beyond their own markets for opportunity. But much still remains to be done to create a more unified, risk-averse and cost-efficient post-trade environment for a growing pan-European and global financial marketplace. This paper examines the ongoing initiatives to create a more unified single capital market for Europe. Covering the efforts made by the Euroclear group to reduce average cross-border settlement fees from between €5 and €15 to less than €1, it also focuses on the wider Giovannini Group agenda and how its identified 15 barriers are facing removal. Furthermore, it looks at how self-regulatory measures such as McCreevy's Code of Conduct are helping the cause. Finally, it examines the potential ramifications of the European Central Bank's proposed securities settlement solution for the eurozone — Target2-Securities (T2S). [ABSTRACT FROM AUTHOR]

Published
2008
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4. Asia Bond Monitor September 2014

Author

Asian Development Bank (ADB)

Subjects
emerging East Asia, local currency bond market, foreign currency bonds, bonds, bond yields, bonds outstanding, government bonds, corporate bonds, bond issuance, foreign investor holdings, People's Republic of China, Hong Kong, China, Indonesia, Republic of Korea, Malaysia, Philippines, Singapore, Thailand, Viet Nam, foreign capital inflows, G3 currency bond, international currency, bond market developments, renminbi internationalization, dim sum bonds, cross-border settlement, offshore renminbi bond market
Abstract

This publication reviews recent developments in East Asian local currency bond markets along with theoutlook, risks, and policy options. It covers the 10 members of the Association of Southeast Asian Nations plus the People’s Republic of China; Hong Kong, China; and the Republic of Korea.

Published
2014

5. Republic of Indonesia Financial Sector Assessment Program : CPSS-IOSCO Recommendations for Securities Settlement Systems--The Equity and Corporate Bonds Securities Settlement Systems

Author

International Monetary Fund and World Bank

Subjects
LEGAL REQUIREMENTS, CASH SETTLEMENTS, SETTLEMENT SYSTEMS, SHAREHOLDERS, STOCK EXCHANGE MEMBERS, DEPOSIT, STOCK EXCHANGE MEMBER, BANK SETTLEMENT, CREDIT POLICY, ACCOUNT HOLDER, SECURITIES TRANSACTION, EQUITIES, RISK MANAGEMENT POLICY, CROSS-BORDER SETTLEMENT, LENDER OF LAST RESORT, COLLATERAL, MORAL HAZARD, INTERNAL CONTROL, CREDIT LINES, RECEIVABLE, BROKER, WITHDRAWAL, REPO, GENERAL SHAREHOLDER, INSTITUTIONAL INVESTORS, HOLDING, REGULATORY RESPONSIBILITIES, CREDITORS, CUSTODIAN BANKS, SYSTEMIC RISK, NET SETTLEMENT, BANK DEPOSITS, STATE OWNED BANKS, CORPORATE GOVERNANCE, BANKING INDUSTRY, TRADE FOR TRADE, FINANCIAL FAILURE, OUTSTANDING AMOUNT, SETTLEMENT SERVICES, SETTLEMENT DATE, INTERNAL CONTROLS, FOREIGN BANKS, LIQUIDITY, TRADING SESSION, ACCOUNTING PRACTICES, CREDIT RISK, EQUITY MARKET CAPITALIZATION, SECURITY CONTROLS, SETTLEMENT PROCEDURE, STOCK OPTIONS, AUCTIONS, FINANCIAL RISK, ACCOUNT HOLDERS, SECURITIES EXCHANGE, SECURITIES EXCHANGES, CENTRAL REGISTRY, CONTRACTUAL ARRANGEMENTS, AUDITS, INSOLVENCY, BANKRUPTCY, REAL TIME GROSS SETTLEMENT, LEGAL SYSTEM, LENDER, SECURITIES SETTLEMENT SYSTEM, MARKET PARTICIPANTS, DERIVATIVES, ACCESS TO INFORMATION, CAPITAL MARKETS, REPOS, RECORD KEEPING, SECURITIES MARKETS, SECURITIES SETTLEMENT, SECONDARY MARKET, SUKUK, TRADE INFORMATION, CENTRAL SECURITIES DEPOSITORY, GOVERNMENT SECURITIES, SECURITIES TRANSACTIONS, DEBT SECURITIES, COURT OF LAW, BANK RISK, EXCHANGE SYSTEM, BORROWING, EQUITY MARKET, CASH SETTLEMENT, RISK PROFILE, CREDIT FACILITIES, SECURITIES, MARKET SHARE, PRUDENTIAL SUPERVISION, BROKER DEALERS, GOVERNMENT REGULATION, EXPOSURE, CENTRAL BANKS, SECURITIES SETTLEMENT SYSTEMS, SETTLEMENT OF TRANSACTIONS, ROLLING SETTLEMENT, TRADING, REGULATORY BODIES, LAWS, CASH TRANSFER, LIQUIDITY RISK, CASH TRANSFERS, VOLATILITY, ASSET BACKED SECURITIES, SECURITIES REGULATORS, REGULATORY RESPONSIBILITY, INTERNAL AUDIT, CONTINGENCY PLANS, INDIVIDUAL INVESTORS, OPERATIONAL RISK, SECURITIES MARKET, CUSTODY, SETTLEMENT OF TRADES, GOVERNMENT TREASURY NOTES, STOCKS, FINANCIAL SECTOR, AUDIT COMMITTEE, BOOK ENTRY, SETTLEMENT ARRANGEMENTS, TRADE EXECUTION, TRADE DATE, INVESTMENT FUND, MERGER, SHAREHOLDER, GOVERNMENT BONDS, JURISDICTION, ASSETS, CENTRAL SECURITIES DEPOSITORIES, FINAL SETTLEMENT, SETTLEMENT RISK, SETTLEMENT, RISK MANAGEMENT, BOOK-ENTRY, GUARANTEE FUND, BENEFICIARY, PAYMENT SYSTEMS, LIQUIDITY PROBLEMS, BORROWER, CONTINUOUS AUCTIONS, MARKET STRUCTURE, RISK MANAGEMENT SYSTEM, DOMESTIC SECURITIES, CUSTODIAN BANK, SECURITIES ISSUER, FUTURES, STOCK EXCHANGE, NEW PRODUCTS, RISK MANAGEMENT POLICIES, PAYMENT OBLIGATIONS, DEFAULTS, CORPORATE BOND TRANSACTIONS, CREDIT POLICIES, DEBT, CREDIT LINE, POWER OF ATTORNEY, MARKET TRANSPARENCY, ASSUMPTION OF LIABILITY, CROSS-BORDER SETTLEMENTS, SUPERVISORY AGENCY, CENTRAL BANK, RETURN, CASH MARKET, JURISDICTIONS, TRADING PLATFORM, CAPITAL MARKET, COLLATERAL REQUIREMENTS, RISK CONTROLS, KEY PERFORMANCE INDICATORS, CASE OF BANKRUPTCY, HARMONIZATION, CORPORATE BOND MARKET, LEGAL PROTECTION, ENFORCEABILITY, BUSINESS PLANS, ACCOUNTING, SECURITIES ISSUERS, CROSS-BORDER TRANSACTIONS, TREASURY STOCK, BUSINESS LICENSES, EXCHANGE TRANSACTION, PAYMENT OBLIGATION, BANK SYSTEM, DELIVERY OF SECURITIES, FINANCIAL STABILITY, SECURITIES SETTLEMENTS, CAPITAL MARKET LAW, TURNOVER, CORPORATE BONDS, HOLDINGS, CASE OF DEFAULTS, TREASURY, MARKET CONDITIONS, LEGAL RISK, FINANCIAL INSTITUTION, MIGRATION, EXCHANGE TRANSACTIONS, INTERNATIONAL BANK, BANK GUARANTEES, MONETARY FUND, PRIVATE SECTOR DEVELOPMENT, PRICE MOVEMENTS, BANK INDONESIA, GENERAL OBSERVATION, CORPORATE BOND, ACCOUNTANT, SALARIES, BLOCK TRADES, LEGAL FRAMEWORK, CASH COLLATERAL, FRAMEWORK FOR SECURITIES, CIVIL CODE, CHECKS, GROSS SETTLEMENT SYSTEM, BANKRUPTCY LAW, CASH PAYMENT, COLLATERAL TRANSFERS
Abstract

This assessment forms part of the joint International Monetary Fund (IMF) World Bank Indonesia Financial Sector Assessment Program (FSAP) which is being undertaken during 2009-2010. The assessment, which covers the private sector equity and corporate bonds securities system's observance of the Committee on Payment and Settlement Systems / International Organization of Securities Commissions (CPSS/IOSCO) recommendations for securities settlement systems, was conducted during an ad hoc mission. The assessment focuses on two types of trades. First the clearing and settlement process is assessed as regards equity transactions traded on the stock exchange Indonesian Stock Exchange (IDX), cleared through the Clearing and Guarantee Corporation (KPEI) clearing system (e-CLEARS) and settled through the Central Securities Depository for the Stock Exchange securities (KSEI) settlement system (C-BEST). In addition, the assessment focuses on corporate bond transactions, which are traded outside the exchange and settled through the KSEI settlement system (C-BEST).

Published
2010

6. Thailand Financial Sector Assessment Program : Thailand Securities Depository of the CPSS/IOSCO Recommendations for Securities Settlement Systems

Author

International Monetary Fund and World Bank

Subjects
DATA STORAGE, INSTITUTIONAL ARRANGEMENTS, SETTLEMENT SYSTEMS, TRADING VOLUME, TRANSFER OF ASSETS, CONFIDENCE INTERVAL, TAX EXEMPTION, DISASTER RECOVERY, SECURITIES COMPANIES, EQUITIES, INTERNATIONAL ACCOUNTING STANDARDS, CROSS-BORDER SETTLEMENT, LENDER OF LAST RESORT, PROTECTION OF INVESTORS, FINANCIAL INTERMEDIARIES, COMMERCIAL CODE, INSTITUTIONAL FRAMEWORK, TAX TREATMENT, COLLATERAL, PENSION, BACK-UP, CLEARING HOUSE, INTERNAL CONTROL, AUDITORS, ACCOUNTING STANDARDS, EXCHANGE COMMISSION, HARDWARE, RISK MANAGEMENT PROCEDURES, TRANSPARENCY, INSTITUTIONAL INVESTORS, HOLDING, CREDITORS, PROTECTION OF DATA, BID, CUSTODIAN BANKS, SYSTEMIC RISK, NET SETTLEMENT, TRANSFER OF FUNDS, SETTLEMENTS, INDEBTEDNESS, INTERNATIONAL ACCOUNTING STANDARD, MONETARY POLICY, SETTLEMENT DATE, FINANCIAL DIFFICULTIES, LIQUIDITY, CREDIT RISK, TRADING VALUE, CROSS-BORDER COOPERATION, CUSTOMER SATISFACTION, SECURITIES DEPOSITORY, LIQUIDITY RISKS, CONTRACTUAL ARRANGEMENTS, AUDITOR, COLLATERALIZATION, DEPOSITORY, TAX SYSTEMS, AUDITS, BUSINESS CONTINUITY, CERTIFIED ACCOUNTANTS, INSOLVENCY, OPERATING SYSTEM, MARKET INTERMEDIARIES, TRADING SYSTEM, BANKRUPTCY, TRANSFER OF TITLE, REAL TIME GROSS SETTLEMENT, LENDERS, LENDER, RESULT, SECURITIES SETTLEMENT SYSTEM, MARKET PARTICIPANTS, INTERNATIONAL ACCOUNTING, BUSINESS CASE, CAPITAL MARKETS, SUPERVISORY POWER, SECURITIES MARKETS, REGULATORY FRAMEWORK, FIREWALLS, WEB, SECURITIES SETTLEMENT, ACCOUNTANCY, SECURITIES ACCOUNTS, SECURITIES TRANSACTIONS, AUTHENTICATION, CERTIFICATES, BANK RISK, CASH SETTLEMENT, GOVERNMENT ORGANIZATIONS, COURT ORDERS, MUTUAL FUNDS, SECURITIES, BUYER, PRUDENTIAL SUPERVISION, EXPOSURE, ISSUANCE, SECURITIES SETTLEMENT SYSTEMS, RESULTS, ROLLING SETTLEMENT, TRADING, RESERVE FUND, BIDS, CUSTODY FEES, PARENT COMPANY, ACCOUNT HOLDING, CUSTODIAN, CONFLICT OF LAW, WEB SITE, FUND MANAGERS, DATA FLOWS, DATA COMMUNICATION, VOLATILITY, TRANSACTION, TRANSFER OF SECURITIES, DISCLOSURE OF INFORMATION, INTERNAL AUDIT, TAX, CONTINGENCY PLANS, GENERAL PUBLIC, ComputingMilieux_LEGALASPECTSOFCOMPUTING, PENSION FUND, RECEIVERSHIP, OPERATIONAL RISK, CUSTODY, DEBT INSTRUMENT, CONTINGENCY PLAN, CREDIT EXTENSION, CREDITOR, RECEIVER, SECURITIES HOLDINGS, FINANCIAL SECTOR, SETTLEMENT PROCEDURES, BOOK ENTRY, ELECTRONIC MESSAGE, SITES, TRADE EXECUTION, INTERNATIONAL STANDARDS, ACCOUNTING STANDARD, BROKERS, TRADE DATE, CUSTODIANS, BOOK-ENTRY TRANSFER, INSOLVENT, EVENT OF BANKRUPTCY, LEGAL BASIS, REGISTRATION SYSTEM, SHAREHOLDER, CUSTODY SERVICES, GOVERNMENT BONDS, JURISDICTION, DEBTOR, CONFIDENTIALITY, COURT DECISION, ASSETS, FINAL SETTLEMENT, LEGAL POWER, ACTIVE SECURITIES, SETTLEMENT RISK, USERS, SETTLEMENT, RISK MANAGEMENT, PAYMENT SYSTEM, BOOK-ENTRY, TRADES, BORROWER, ACCOUNTING SYSTEM, LEGAL ENTITY, RISK MANAGEMENT SYSTEM, REGULATORY FRAMEWORKS, SECURITIES ACCOUNT, CLEARINGHOUSE, BACK UP, STOCK EXCHANGE, RISK MANAGEMENT POLICIES, OPERATIONAL RISKS, DEBT INSTRUMENTS, FUNCTIONALITIES, PRIVATE BONDS, PENALTY, DEBT, CREDIT LINE, LEGAL ACTION, USE OF SECURITIES, ORDERLY EXIT, CLOSING PRICE, CENTRAL BANK, DISCLOSURE, CAPITAL MARKET, COLLATERAL REQUIREMENTS, RISK CONTROLS, TRANSFER OF OWNERSHIP, SECURITIES DEPOSITORIES, LEGAL PROTECTION, ENFORCEABILITY, BANKRUPT, DEBTOR TRANSFERS, ACCOUNTING, OPEN ACCESS, COMMERCIAL BANK, MEANS OF COMMUNICATIONS, CONFLICT OF INTEREST, CROSS-BORDER TRANSACTIONS, BENCHMARK, PAYMENT OBLIGATION, USES, RESERVE, DELIVERY OF SECURITIES, LICENSE, SECURITIES SETTLEMENTS, CORPORATE BONDS, PRIVATE SECTOR, NET CAPITAL, LEGAL RISK, SECURITIES LENDING OPERATIONS, DEPOSITORIES, COMMERCE, COMMERCIAL BANKS, INTERNATIONAL BANK, CLOSING PRICES, LEVEL OF RISK, MONETARY FUND, MATERIAL, PRIVATE SECTOR DEVELOPMENT, REGULATORS, SECURITIES REGULATOR, LEGAL FRAMEWORK, GOVERNANCE STRUCTURE, CHECKS, CIVIL LAW, FOREIGN CURRENCY, GROSS SETTLEMENT SYSTEM
Abstract

Securities settlement systems should have a well-founded, clear and transparent legal basis in the relevant jurisdiction. The laws, regulations, rules and procedures governing the operations and activities of Thailand Securities Depositories (TSD) are public and accessible to participants. In particular, participants receive comprehensive documentation covering the rules, requirements, procedures and instructions of TSD. This documentation is available on request and is accessible on the TSD website. The public authorities' regulations are also available to the general public on the websites of the Ministry of Commerce (MoC), the Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT). It is recommended to implement adequate legal measures that ensure the netting arrangement is legally protected even in the event of the insolvency of a participant.

Published
2008

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