Our new delivery versus payment
settlement solution is an exciting milestone as it helps pave the way for the Russian market to move more towards a real time settlement environment, keeping up with other capital markets around the world as part of Russia s capital market reform.
Following the implementation of new delivery versus payment
(DVP) models on the Qatar Exchange, Dubai Financial Market and Abu Dhabi Securities Exchange in May 2011, the index provider had postponed a decision in June this year to December to get more time to study whether both countries merit promotion.
Abu Dhabi The Emirates Securities and Commodities Authority (SCA) said yesterday the UAE's stock markets will start operating the delivery versus payment
(DVP) service from April 28.
Abu Dhabi Securities Exchange (ADX) held a meeting 21 April 2013 with the custodian members to discuss the developments targeting the implementation of a new enhancement of Delivery Versus Payment
(DvP) process, which the Abu Dhabi exchange plans to put into operation from the trading date of 5 May 2013.
The board assessed the progress made in the application of the Delivery versus Payment
(DVL) regulation and the latest international developments in that regard, and looked into the issue of acceptance of Central Counterparty Clearance House (CCP) at the local and regional levels.
MSCI delayed its decision from June to allow it to get more feedback on UAE bourses' new delivery versus payment
(DvP) settlement systems, the international standard.
Regulators need to tackle issues like introducing new instruments besides the pure longing of stocks of listed companies, improve mechanisms like delivery versus payment
(DVP), auxiliary tools like security lending and borrowing, licensing new financial services like investment management and regulate existing practices like rating agencies, auditing firms and research and financial analysis services," he said.
Abu Dhabi Securities Exchange (ADX) announced that it is continuing the process of enhancing Delivery Versus Payment
(DVP) model, which ADX launched in May of 2011, through applying Buyer Cash Compensation (BCC) settlement procedure
He said the SCA, on the other hand, issued a number of new regulations and amended others as required by the rating prerequisites, adding that the SCA amended the regulations for brokers and corporate governance and issued new regulations for securities custody and Delivery versus Payment
Regulators need to tackle issues like introducing new instruments besides the pure longing of stocks of listed companies, improved mechanisms like Delivery Versus Payment
(DVP), auxiliary tools like security lending and borrowing, licensing new financial services like investment management and regulate existing practices like rating agencies, auditing firms and research and financial analysis services.
On the UAE, Gotke said, "With more and more foreign investors looking to buy and sell in the UAE, clearly the newly implemented delivery versus payment
(DVP) system, introduced as part of the MSCI criteria, has now been more fully tested.