NOTICE NO. CSD/DP/2012/001
NOTICE TO ALL DEPOSITORY PARTICIPANTS
In preparation for the implementation of the Straight Through – Process (STP) for settlement of securities on the Delivery verses Payment (DVP) Model, the Depository wishes to inform participants that effective Monday October 1, 2012, the Central Securities Depository would take over the funds settlement leg of all securities transactions except that of Repos.
- Settlement at the primary market remain the same
- Settlement cycle for secondary market transactions remain the same (T+0)
- Net settlement obligations would be collated and applied to participants accounts at Bank of Ghana at the end of day by 4:30 p.m.
- Securities will be settled at the CSD upon confirmation of fund settlement by the Bank of Ghana.
- All trade allocations should be completed by 4:00 p.m. on trade day.
- Meanwhile the mandatory reporting of pre-negotiated prices in the reporting of secondary market transactions has been postponed. A new date for the implementation will be communicated in due course. Members are however encouraged to continue to report their transactions into the system for settlement, including the prices.
Please take note and comply accordingly.
Management of Central Securities Depository
