In addition, Family Bank selected Acumennet Risk Management modules to safeguard the business from counterparty risk, by utilizing the tools available to manage deriving risks, thus preventing any defaults through facilities, like delivery versus payment
Allocation Account is exclusively used for Delivery versus Payment
(DvP) clients and any other cases accepted by the DFM and approved by the Securities and Commodities Authority (SCA).
Concurrent with implementation of T+2 settlement was the introduction of a delivery versus payment
model (DvP), which ensures the delivery of securities occurs only if the corresponding payment occurs and spin-off of the securities depository center (SDC), bringing the Saudi market in line with most other major global markets.
A good example would be delivery versus payment
(DvP), where one leg of the transaction could potentially be the payment as a USC token denominated in a particular currency, and the other leg could be the security.
The Market Rules also ensure the use of International Standards related to the procedures of delivery versus payment
(DVP) regarding the clearing & settlement of transactions at BHB.
Secondly, we have introduced delivery versus payment
(DvP) and direct market access (DMA) schemes for foreign brokers, the latter through a sponsoring local broker.
A change to rules for lending and borrowing securities will facilitate borrowing, the SCA said; if brokerages fail to deliver securities under delivery versus payment
procedures, they can borrow the securities they need without necessarily having to seek SCA approval.
Meanwhile, the decision to promote the UAE to emerging markets status was driven by the improvements made in terms of the payments system used for share dealings, known as the delivery versus payment
MSCI said international institutional investors recognised the improvements made by the UAE regulator and bourses with respect to the delivery versus payment
Highlighting some of QE's achievements Mujtaba said the local bourse has been successful in implementing the delivery versus payment
(DVP) process in order to enhance the efficiency of the settlement process.
A non-anonymous quote-driven inter-broker platform where member firms published (more or less indicative) quotes, respectively based on tailor-made PSAs (purchase and sale agreements) which enabled settlement to an international T+2/3 delivery versus payment
standard, settled mostly in USD.