GENERAL OBLIGATIONS OF A RECOGNISED DEPOSITORYInternational Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021
GENERAL OBLIGATIONS OF A RECOGNISED DEPOSITORYInternational Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021
International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021 Chapter IV GENERAL OBLIGATIONS OF A RECOGNISED STOCK EXCHANGE AND A RECOGNISED CLEARING CORPORATION
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Settlement finality and netting rules prioritise collateral rights once payment obligations are determined for members and clients. Payment and settlement must follow netting or gross procedures contained in approved bye-laws of recognised stock exchanges and recognised clearing ... Summary
Settlement finality and netting rules prioritise collateral rights once payment obligations are determined for members and clients.
Payment and settlement must follow netting or gross procedures contained in approved bye-laws of recognised stock exchanges and recognised clearing corporations. Such settlements are final, irrevocable and binding once the payable money, securities or other transaction obligations are determined, even without actual payment or delivery. Following finality, rights to appropriate contributed collateral, deposits and margins for settlement or other obligations take priority over other liabilities or claims against trading members, clearing members or clients.
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