Settlement Organization definition
Settlement Organization means an organization performing cash settlement of trades upon their clearing. The list of Settlement Organizations is available on NSD’s official web site at www.nsd.ru.
Settlement Organization means an organization that settles transactions with financial instruments under orders from a clearing house and (or) the stock exchange’s document that confirms the transaction execution, and (or) another document accepted by the settlement organization as a ground for settlements in accordance with its rules. Third-party entities mean Custodian, Counterpart, Nominal Holder, and Settlement Organization. Transactions with the Central counterparty mean the sales and repo transactions with financial instruments whereby the Exchange makes the clearing business acting as a central counterparty in a stock market.