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Article 87 - DVP settlement through CSD links

Article 87
DVP settlement through CSD links

Delivery versus payment (DVP) settlement shall be regarded as practical and feasible where:

((a))

there is a market demand for DVP settlement evidenced through a request from any of the user committees of one of the linked CSDs;

((b))

the linked CSDs may charge a reasonable commercial fee for the provision of DVP settlement, on a cost-plus basis, unless otherwise agreed by the linked CSDs;

((c))

there is a safe and efficient access to cash in the currencies used by the receiving CSD for settlement of securities transactions of the requesting CSD and its participants.

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