Requirements for participation in VPO NOK
Participants in VPO are required to sign a Settlement Agreement. By signing the Settlement Agreement, the customer accepts VPS Rules for Registration of Financial Instruments, VPS General Terms and Conditions for Account Operators and VPS Rules for Central Securities Settlement in Norwegian Kroner (VPO NOK). In addition, participants that use the services of a liquidity bank must provide a Liquidity Declaration issued by a liquidity bank that holds accounts with Norges Bank.
Participation is decided by VPS based on criteria set out in the VPO NOK Rules.
Processing of the application by VPS
The application must be sent to VPS, who will determine whether the conditions for participation in VPO NOK are met by the applicant. In addition to the requirements mentioned above, VPS may require the applicant to provide additional information or documentation if it deems necessary for processing the application. VPS shall process the application as soon as possible, after having received all the necessary information. VPS will notify the applicant as soon as the application is satisfactory. VPS will approve the applicant as a participant in VPO NOK by entering into a Settlement Agreement with the applicant.