DCC Announced New Version of Clearing Rules
OREANDA-NEWS. July 21, 2010. FFMS has registered the new version of the Clearing Rules of Depository Clearing Company (DCC).
The new version of the Clearing Rules (hereinafter the ‘Rules') comes into force on August 01, 2010.
The main amendments are due to the implemented possibility to settle trades on DVP basis in real time (Articles 21, 22 of Chapter 2 of Section 2). This means that our clients will be able to settle instructions on a real time basis from the opening of the operating day at DCC till 19:20
for instructions submitted via EDI – in field 72 indicate the |ONLINE| attribute, i.e. indication of settlement of DVP trades before the clearing session;
for instructions submitted via SWIFT – in field
for instructions submitted in hard copy (Form D14) – choose the respective instruction type (online receipt versus payment or online delivery versus payment).
The following amendments were also made to the Rules:
Par.2.4. added to Article 2 to stipulate the validity periods for instructions upon expiration whereof the client is provided with a report on rejection of the operation if the instruction has not been executed for some reason before such date;
Par. 4. added to Section 2 to specify the list of reports provided by DCC to its clients and the procedure for their provision.
Amendments were also made to the list of appendices to the Clearing Rules, in particular:
appendix E04 removed;
appendices G03; U06_1; U06_2; E01; E05-E07; E10 amended;
appendices E12; E17; E18 added; Appendix D14 changed significantly, instruction for its completion amended.
The new version of the Clearing Rules is available on DCC web-site.
Shall any questions concerning this message arise, feel free to contact the manager of your company at DCC.