The differences between DVP settlement for NETDs and exchange trade deliveries
The following table shows the primary differences between DVP settlement for NETDs and exchange trade deliveries.
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|DVP settlement for NETDs
|DVP settlement for exchange trades deliveries
|JASDEC DVP Clearing Corporation (JDCC)
|Japan Securities Clearing Corporation (JSCC)
|Transactions Subject to Clearing
|Non-exchange transactions designated by Participants (Customer Side)
|Exchange trades (Street Side)
|Brokers, Trust Banks, Custodian Banks
|Method of Settlement (Securities-Funds)
|Timing of Obligation Assumption
|Guarantee of Settlement
|JDCC assumes obligations in relation to individual transactions only if Transfer Condition is met.
JDCC fulfills obligations for payment on behalf of a defaulting participant.
|JSCC assumes obligations in relation to all trades executed at exchanges.
JSCC fulfills obligations for payment and delivering stocks on behalf of a defaulting participant.
For enquiries about the DVP settlement system for NETDs please contact:
General Enquiries about the DVP Settlement System for NETDs