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Settlement MODEL

Settlement MODEL. AMEDA 15 th Meeting Fez, April 25 th – 27 th 2012. Presented by Mrs Kaouther RAACH. Plan. Instructions Settlement Deadlines Settlement Principles. Instructions. Instructions (2/2). Settlement Deadlines. Settlement Principles . Settlement Principles.

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Settlement MODEL

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  1. Settlement MODEL AMEDA 15th Meeting Fez, April 25th – 27th 2012 Presented by Mrs Kaouther RAACH

  2. Plan • Instructions • Settlement Deadlines • Settlement Principles Tunisian Central Depository

  3. Instructions Tunisian Central Depository

  4. Instructions (2/2) Tunisian Central Depository

  5. Settlement Deadlines Tunisian Central Depository

  6. Settlement Principles Tunisian Central Depository

  7. Settlement Principles • One Settlement Batch at the end of the day for instructions with cash payment and FOP as : • Stock exchange transactions; • FoP • OTC market transactions intraday repo • Several batches per day at different hours for FoP instructions • STICODEVAM informs banks and brokers about cash to be transferred to banks on T+2 at the end of the day at about 6 P.M • If there is no objection from banks or brokers, cash will be transferred to central bank : one amount/per day for each bank to be debited or credited at T+3 morning at about 10 a.m in the central bank • Central bank receives cash from STICODEVAM automatically by file (scriptural transfer) at about 10 a.m • About 10.30 a.m , STICODEVAM sends securities statements to members Tunisian Central Depository

  8. Settlement Principles • The Statement contains details about each settled instruction : • Instruction type (FOP, Transactions, …) • Operation type, • Amount in case of a DvP instruction • If there is pending instruction, the book keeper is informed about all details Tunisian Central Depository

  9. Overview Which model : Model 1 or 2 ? - Which are the necessary preconditions that should exist to assert which is the applied model ? - When we can consider that it’s model 1 and not model 2? Tunisian Central Depository

  10. THANK YOU Questions ? Tunisian Central Depository

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