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Part VI International Markets and Exchanges, 17 International Settlement

Madeleine Yates

From: Financial Markets and Exchanges Law (2nd Edition)

Edited By: Michael Blair, George Walker, Stuart Willey

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 24 September 2020

Subject(s):
Securities settlement system — Securities lending — Transfer of securities — Unidroit Convention on Substantive Rules for Intermediated Securities — International Organisation of Securities Commissions (IOSCO) — Committee on Payment and Settlement Systems (CPSS) — Central Securities Depository (CSD) — Derivatives — Eurobond — World Bank — International Monetary Fund (IMF) — European Central Bank — Clearing
17.01 Most settlement following a trade (that is, the transfer of ownership or other interest in securities following the agreement to make such transfer) takes place through a settlement system, whether because this is required by the law governing the relevant securities or the rules of the exchange or other trading system on which the trade was concluded, or because the parties have otherwise chosen to do so. Settlement through a settlement system can take place only if the parties to the trade are members of the relevant settlement system or have arrangements...
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