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Article 87 DVP settlement through CSD links

United Kingdom

Original text. Later amendments are not shown.

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

  1. (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;

  2. (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;

  3. (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.