Extended balance check and sweeping
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 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.