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Clearing and settlement
When buying or selling securities, a number of challenges arise after a trade is agreed, regardless of whether the transaction is carried out through the stock exchange or off-exchange. It is essential that payment is made and the securities change hands in an efficient and secure manner if both parties to the trade are to be fully satisfied with the transaction.
In order to achieve this, VPS offers investment firms, settlement agents and central counterparties (CCPs) the opportunity to act as settlement participants in our settlement system (VPO).
Operating as a settlement participant in VPO allows customers to carry out efficient settlement of securities, while eliminating risk through delivery versus payment (DvP). VPS delivers a high degree of straight through processing (STP) to ensure that settlement is fully automated and failed trades are avoided.
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