You are here: Frontpage > Clearing and Settlement

Clearing and Settlement

 

The central securities settlement system (VPO), is based on a multilateral netting and clearing model of all trades that are entered to be settled on a certain settlement date. Based on the net transfer per seller and buyer, the Central Bank of Norway carries out the cash settlement and VPS the securities settlement between the participants.

Payment between brokers or settlement agents and their investors, takes place outside of VPO.

 

  
 

Settlement participants

At the year end of 2008, the VPS had 107 settlement participants, 38 are direct members, and the rest are indirect members through a settlement agent. 39 of the participants are located abroad and characterized as remote members.

The VPS has two settlement cycles per day.

On an average settlement day, the system settled 180,000 transactions at a value of NOK 290 Billion.

  

The settlement system

The VPS' Clearing and Settlement System is in the forefront of using technology and international standards. To maximize the value carried through each settlement cycle related to available liquidity, both monetary and of securities, the system uses an optimization model based on linear programming.

All reporting to the system is carried through the standardized interface ISO-15 022 and a standard GUI-interface. Likewise, reporting from the system is carried through the ISO-15022-format.

  

Almost all communication to the system is carried through automatically (from machine to machine).

It also carries a Web based user interface:

VPS Oppgjørsinfo

Borrowing and lending

The VPS offers the participants an automated borrowing and lending system of securities in the system. A bilateral
borrowing and lending system is also offered.

Contact VPS

Telephone: +47 22635300
Customer
service: +47 22635100
Fax: +47 22635200
Email: vps@vps.no
 
Office address:
Biskop Gunnerus' gate 14 A
0185 Oslo
 
Mailing address:
Postboks 4, 0051 Oslo

Settlement Calendar

 

View the settlement calendar

Key Figures

VPS Clearing and Settlement 29.07.2010
Settlement ratio: 96,75
Number of settled transactions: 39.893
Settled transactions in billions of NOK: 100

Explanations