Custody/clearing  
CITI    
HSBC SECURITIES SERVICES    
NAB ASSET SERVICING    
 
 
NEW ZEALAND - Capital Market Infrastructure Summary

Central Securities Depositories
NZCSD
RBNZ
NZ Clear

BIS Model
Model 3

Settlement Cycle
T+3 for Equities
T+2 for Debt securities

Comment
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
Settlement Cycle

 
The above information is written as a general guide only and is subject to change. Please refer to our 'Terms' page for more details.