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DVP Rules [Entire Rulebook has been deleted]

Versions

09 Dec 2018
10 Dec 2018

‹ Schedule A

Rule 1 — Application and Definitions ›

DVP Rules

Rule 1 — Application and Definitions
- 1. Definitions
Rule 2 — Applications for Participation and Participation Criteria
- 2.1 Participants in DVP Settlement
- 2.2 Application for Participation in DVP Settlement by Principals:
- 2.3 Payment and Settlement Facility Requirements of Principals
- 2.4 Application for Participation in DVP Settlement by Depository Agents
- 2.5 Application for Participation in DVP Settlement by Settlement Banks
- 2.6 Settlement Bank Payment Facility Requirements
- 2.7 Participation in DVP Settlement by Clearing Members
- 2.8 Participation in DVP Settlement By Clearing Bank
Rule 3 — Legal Relationships and Legal Effect of DVP Instructions
- 3.1 Novation
- 3.2 Effect of Novation
- 3.3 Set off of Payment Obligations Under Novated Transactions
- 3.4 Rights of Clients of Principals
- 3.5 Representations Made When A DVP Instruction Submitted by the Principal is Matched and Validated
- 3.6 Obligations of CDP
Rule 4 — Legal Relationships Between Depository Agent and Principal
- 4.1 Authority of Depository Agent
- 4.2 Submissions of DVP Instructions and Cancellations of DVP Transactions by Depository Agent
- 4.3 Delivery of Securities to Depository Agent Deemed Delivery to Principal
- 4.4 Communications Between CDP and Principal Via Depository Agent
- 4.5 Termination of Depository Agent by Principal
- 4.6 Depository Agent May not Act for More than One Principal
- 4.7 Non-Application of This Rule to A Principal Who is A DA
Rule 5 — Time-Table for Sending of Instructions and Payment
- 5.1
- 5.2
- 5.3
Rule 6 — Cancellation of Instructions
- 6.1 Cancellation
- 6.2 [Rule has been deleted.]
- 6.3 Legal Effect of Cancellation
- 6.4 CDP'S Power to Cancel Transactions
- 6.5 Consequences of Cancellation of Transactions, Non-Matching or Non-Validation of Instructions
Rule 7 — Money Settlement
- 7.1 Money Settlement with Principal
- 7.2 Netting of Balances
- 7.3 CDP Net Money Settlement Statement
- 7.4 Principal Net Debit Cap
- 7.5 Total Net Balance
- 7.6 Limits on DVP Validations
- 7.7 Limits on Cancellations
- 7.8 [Rule has been deleted.]
Rule 8 — The Settlement Bank
- 8.1 The Settlement Bank
- 8.2 Netting of Net Credit and Net Debit Balances
- 8.3 Settlement Bank Net Money Settlement Statement
- 8.4 Setting of Principal Net Debit Cap
- 8.5 Setting Principal Net Debit Cap to Zero
- 8.6 Guaranteed Value
- 8.7 Default of Principal in Payment of the Net Debit Balance
- 8.8 Termination of Payment Facilities to Principal by the Settlement Bank
Rule 9 — Termination of Principal and Its DA
- 9.1 Termination of Principal by CDP
- 9.2 Termination of Payment Facilities by the Settlement Bank
- 9.3 Obligations Arising Upon Termination of Principal
- 9.4 Termination by Principal
- 9.5 Termination of DA
- 9.6 Termination by DA
- 9.7 Obligations Arising Upon Termination of DA
Rule 10 — The Clearing Bank
- 10.1 The Clearing Bank
- 10.2 SB Default Notice to Clearing Bank on DVP Settlement Payment
- 10.3 SB Net Debit Cap
- 10.4 All Principal Affirmations Subject to SB Net Debit Cap
- 10.5 [Rule has been deleted.]
- 10.6 Setting Settlement Bank Net Debit Cap to Zero
Rule 11 — Termination of the Settlement Bank
- 11.1 SB Default Notice
- 11.2 Disciplinary Action Against Settlement Bank Upon Receipt of SB Default Notice
- 11.3 Termination of Settlement Bank By CDP
- 11.4 Termination of Guarantee and Indemnity for the Settlement Bank by the Clearing Bank
- 11.5 Termination by Settlement Bank
- 11.6 Obligations Arising Upon Termination of Settlement Bank
- 11.7 Action by Principal Upon Termination of Settlement Bank
Rule 12 — Securities Settlement
- 12.1 Fungibility
- 12.2 Onward Deliveries
Rule 13 — Block Trades
- 13.1 Conflict With Other Rules
- 13.2 Procedure for Affirming A Block Trade
- 13.3 Money Settlement of A Block Trade
Rule 14 — DVP Rules
- 14.1 Participants to Abide by the DVP Rules
- 14.2 Amendment of the DVP Rules
- 14.3 Directives or Regulatory Notices Issued by CDP
- 14.4 Fines and Disciplinary Action
Rule 15 — Fees and Interest
- 15.1 Fees Payable
- 15.2 GST
- 15.3 Interest
Rule 16 — Books and Records of the DA
- 16.1 CDP'S Right of Inspection
Rule 17 — Statements and Reports
- 17.1 Statements and Reports
- 17.2 Participant'S Duty in Relation to Advices, Statements and Reports
- 17.3 Conclusive Evidence
Rule 18 — Suspension of DVP Settlement
- 18.1 CDP Empowered to Suspend DVP Settlement
Rule 19 — Liabilities of CDP
- 19.1 CDP not Liable to Participants in Absence of Fraud
- 19.2 Force Majeure
- 19.3 CDP not Liable for Acts or Omissions of Participants
- 19.4 CDP not Liable to Clients of Principals
- 19.5 Consequential Losses
- 19.6 Limit on Amount of Damages Recoverable
Rule 20 — Disclosure
- 20.1 CDP'S Authority to Disclose Information Concerning Principal
- 20.2 CDP'S Authority to Disclose Information Concerning Settlement Bank
Rule 21 — Notices
- 21.1 Notices
- 21.2 Change of Address
- 21.3 Authorised Signatories
Rule 22 — Communications in DVP Settlement
- 22.1 Communications to be in Prescribed Format
- 22.2 Action by CDP on Communications by Principals and Settlement Bank
- 22.3 Access to Duly Authorised Persons
Rule 23 — General
- 23.1
- 23.2
- 23.3
Annexes
- Annex A — Letter of Guarantee and Indemnity from Settlement Bank
- Annex B — Letter of Guarantee and Indemnity from Clearing Bank
DVP Procedures Handbook

‹ Schedule A

Rule 1 — Application and Definitions ›

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