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  • Approval of Settlement System

    • CSD-2.2.13

      The settlement system of a licensed clearing house must be able to effect:

      (a) Settlement of transfer orders within the system itself; and
      (b) Be able to comply with the requirements stipulated in Paragraph CSD-2.2.7.
      Amended: April 2016

    • CSD-2.2.14

      If the CBB determines that the criteria specified in rule CSD-2.2.13 have been met as regards a designated system, it shall issue in respect of the system a certificate certifying to that effect ("certificate of finality"), and specify a date and time from which the certificate shall have effect.

    • CSD-2.2.15

      If the CBB is unable to make a determination in the terms mentioned in rule CSD-2.2.13 as regards a designated system, it shall inform the system operator in writing accordingly, giving particulars of the criteria specified in paragraph CSD-2.2.7 which have not been met, or of the further information it requires in order to make a determination in relation to such criteria.

    • CSD-2.2.16

      A certificate of finality in respect of a designated system remains in effect until it is revoked.