Statistics provided by VPS Settlement Benchmark

Settlement participants can access statistics on settlement ratio, the number and value of trades settled, cash settlement through Norges Bank and securities lending through the VPS securities borrowing and lending program. The statistics produced cover all trades involving listed and unlisted equity instruments as well as fixed income instruments. Equity instruments include shares, equity certificates and warrants. Fixed income instruments include bonds and short-term bonds (short-term fixed income securities known as ‘sertifikater’). VPS Settlement Benchmark is structured to give settlement participants access to the statistics that apply to them in parallel with comparable figures for the entire market. This gives participants useful comparative information such as a comparison of their settlement ratio against the average settlement ratio of the market as a whole, and information on their market share of total settlement value.

VPS offers the following statistical information:

• Settlement value shows the value of all settled transactions carried out by an investment firm or settlement agent with other settlement participants, with investors or for its own account. The statistics also provide a breakdown of settlement value between Norwegian and international investment firms. Settlement value is analysed by listed and unlisted equity instruments and fixed-income instruments with detail available down to the level of the individual ISIN.
• Number of transactions provides information on the number of trades registered during the period, how many of these transactions were successfully settled either on the agreed settlement day or later, and the value of these transactions. Information is also provided on rejected trades and trades with delayed settlement, including the reasons.
• Settlement ratio shows the percentage of trades that were settled on the original (agreed) settlement day. Settlement ratio is calculated separately for each investment firm and settlement agent and for the market as a whole. The settlement ratio is calculated in terms of both the number of trades and settlement value, and is also broken down between equity instruments and fixed-income instruments. The statistics also show settlement ratio including delayed trades.
• Cash settlement through Norges Bank provides statistics on cash settlement for securities settlement carried out through Norges Bank. Liquidity banks and settlement participants play different roles in the securities settlement process. The statistics for liquidity banks show allocated liquidity, liquidity forecasts/requirements and the actual value of settlement transactions for the settlement participants that that are guaranteed by the liquidity bank in question. Statistics for settlement participants show the liquidity made available relative to liquidity forecast/requirements, and the actual value of settlement transactions.
• Securities lending provides information on which securities can be borrowed through the VPS securities borrowing and lending program, and which settlement participants use this program. The service also provides statistics on the total number of loans made from the securities pool and return deliveries, as well as information on the number of bilateral loans and their value, and on any loan requirements for which securities were not available from the pool. The securities lending statistics provide data for the market as a whole, and do not provide separate information for the individual participant.

Historical data

The system allows searches for historical data as far back as 1 January 2005.

Data warehouse

The data used by VPS Settlement Benchmark is held in a data warehouse. This data is updated at each of the two daily settlement cycles. Data in respect of the first settlement cycle of the day is available when the system opens for business at 08:00 hours. Data for the second settlement cycle of the day is available from around 12:20 hours.