Clearing and settlement of debt securities

This overview is a guide to the Banking & Finance content within the Clearing and settlement of debt securities subtopic, with links to appropriate materials.

Introduction to clearing and settlement of debt securities

The market for debt securities depends on an extensive infrastructure of systems and services, including:

•
infrastructure which eliminates the risk that a party who has entered into a contract for the sale and purchase of debt securities will fail to complete the transaction (clearing infrastructure), and
•
infrastructure which enables debt securities to be delivered from one party to another in performance of a previously agreed purchase and sale or under a transaction such as a securities lending transaction (settlement infrastructure and, together with clearing infrastructure, post-trading infrastructure).

For more information on post-trading infrastructure, see Practice Note: Debt securities market infrastructure. For more information on securities lending transactions and repos, see Practice Notes: An introduction to securities lending transactions and the Global Master Securities Lending Agreement (GMSLA) and An introduction to repo and the Global Master Repurchase Agreement (GMRA).

Clearing debt securities

Clearing

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