Eligible SSSs

When transferring collateral issued in a central securities depository (CSD) or international central securities depository (ICSD), counterparties make use of securities settlement systems (SSSs), which are assessed under the Eurosystem User Assessment Framework (UAF) to determine their eligibility for use in Eurosystem credit operations.

List of eligible SSSs (as of 18 September 2017), and relevant settlement procedures

Country SSS Procedures used for Eurosystem credit operations Other procedures not used by the Eurosystem
Belgium NBB-SSS Free-of-payment (FOP) real-time settlement Delivery-versus-payment (DVP) real-time settlement
Euroclear Bank FOP real-time settlement DVP real-time settlement in commercial bank money
Germany Clearstream Banking AG–system  FOP multiple-batch settlement, FOP real-time procedure DVP settlement
Clearstream Banking AG–CREATION FOP real-time settlement DVP settlement in commercial bank money
Greece BOGS FOP and DVP real-time settlement DVP multiple-batch settlement
Spain Iberclear (CADE) FOP and DVP real-time settlement
France Euroclear France FOP real-time settlement DVP real-time settlement
Italy Monte Titoli FOP real-time settlement DVP multiple-batch settlement, DVP real-time settlement
Cyprus CDCR FOP settlement, pre-depositing of securities DVP settlement in central bank money
Latvia Nasdaq CSD SE Latvian Securities Settlement System FOP real-time settlement DVP real-time settlement
Lithuania Nasdaq CSD SE Lithuanian Securities Settlement System FOP real-time settlement DVP real-time settlement
Luxembourg Clearstream Banking S.A. FOP real-time settlement DVP real-time settlement in commercial bank money
LuxCSD FOP real-time settlement DVP real-time settlement
VP Lux S.à r.l. FOP real-time settlement DVP real-time settlement
Malta MaltaClear FOP settlement, pre-depositing of securities DVP settlement
Netherlands Euroclear Nederland FOP real-time settlement DVP real-time settlement
Austria OeKB CSD GmbH FOP real-time settlement, plus 8 batches for netting purposes DVP real-time settlement, plus 7 batches for netting purposes
Portugal Interbolsa FOP real-time settlement Intraday batch, overnight batch, RTGS (both DVP and FOP) and FOP real-time securities transfers
Slovenia KDD FOP real-time settlement DVP real-time settlement
Slovakia CDCP FOP real-time settlement DVP real-time settlement
NCDCP FOP real-time settlement DVP real-time settlement
Finland Euroclear Finland Infinity System FOP real-time settlement DVP real-time settlement