Extended balance check is a service for settlement participants that have their securities on several accounts and would like to see them as a whole when VPS carries out the balance checks. If securities required for settlement are not available, extended balance checking can be used to identify securities held on other accounts.

 

Extended balance check

  • The service offers better control over the settlement process by allowing the investment firm to seek coverage from five additional accounts.
  • The company may define the order of which the accounts will be prioritised for balance checking.
  • Accounts included in the extended balance check program may not be a lending or borrowing account in the normal securities borrowing and lending program.

 

Sweeping

Sweeping is available to all investment firms that participate in the VPS settlement system. Sweeping provides for any residual holdings on a settlement account to be transferred to another account after each settlement cycle.

Sweeping takes place after balance checking has been carried out.