Investment center LINVEST joined DVP system without prior depositing of assets with settlement in US dollars.
From September 17th, 2007 the use of this technology by the Russian Trading System Market participants became possible not only for the settlement of trades at the expense of clients non-residents, but also for settling the trades at the expense of clients-residents and on own account of the market participants.
At present 79 trading participants have an opportunity to settle transactions on DVP terms with dollar settlement.
DVP system is a mandatory method of settlements in the segment of electronic ("anonymous") trading on the Classic market, where most liquid stocks are traded. And for more 28 securities DVP is the only method of settlements, which can be shown in quotations of the Classic market.
The DVP technology without prior depositing of assets is operating on the basis of CJSC DCC, Russian Trading System settling depository. Cash settlements take place through 3 clearing organizations:
* RTS Settlement Chamber
* JPMorgan Chase Bank (NY)
* Citibank (NY)
DVP system participants are given an opportunity to execute transactions on all securities, which are kept in CJSC DCC, including the whole list of securities of the Classic market and Russian Trading System Board system. Settlements can be carried out also for the OTC market transactions, including securities, which are not included into quotation lists. The use of the DVP system is possible not only for settling trades with RTS members, but also with institutional investors and such OTC market participants as Lehman Brothers, BEAR STEARNS, Nomura International, BNP PARIBAS, SOCIETE GENERALE and others. -- www.rts.ru
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