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  • Settlement Bank to Act on Instructions of the Clearing House

    • CSD-2.1.6

      The licensed clearing house shall instruct the settlement banks to debit or credit the account maintained by the licensed clearing house and also the designated bank accounts of the clearing members. The settlement banks shall act on such instructions, which shall be deemed to be confirmed orders by the clearing members to debit and/or credit funds, as may be specified in the instructions from time-to-time.

      Amended: July 2016
      Amended: April 2016

    • CSD-2.1.7

      [This Paragraph was merged with CSD-2.1.6 in July 2016.]

      Amended: July 2016
      Amended: April 2016

    • CSD-2.1.8

      Clearing members shall authorise settlement banks to access their designated bank accounts for debiting and/or crediting their accounts electronically, on the instructions of the licensed exchange or licensed clearing house.

      Amended: April 2016