DVP Rules [Entire Rulebook has been deleted]
Rule 8 — The Settlement Bank
8.2 Netting of Net Credit and Net Debit Balances
The Settlement Bank shall, on behalf of all Principals which it represents, settle with CDP on a net-net basis on each Settlement Day. The aggregated Net Credit Balance of all Principals which settle through the Settlement Bank and which have Net Credit Balance(s) on that Settlement Day shall be set-off against the aggregated Net Debit Balance of all Principals which settle through the same Settlement Bank and which have Net Debit Balance(s) on that Settlement Day to achieve a single Net-Net Debit Balance payable by the Settlement Bank to CDP or a single Net-Net Credit Balance payable by CDP to the Settlement Bank for that Settlement Day.
Amended on 26 April 201326 April 2013.