Central Securities Depositories
T+3 for Equities
T+2 for Debt securities
NZX is scheduled to move to T+2 settlement is March 2016, for all trades executed from 7 March 2016 onwards.
The Reserve Bank of New Zealand operates NZClear and New Zealand Central Securities Depository Limited (NZCSD). NZClear provides clearing and settlement services for equities and debt securities, with NZCSD providing central book-entry registration of equities and debt securities. Settlement takes place on a T+3 cycle, with some debt instruments having a shorter cycle. Securities and funds are settled on a delivery versus payment (DVP) basis.
Key terms defined in our glossary:
Central Securities Depository
BIS Model 3
The above information is written as a general guide only and is subject to change. Please refer to our 'Terms' page for more details.