CBB Volume 6: Contents

Central Bank of Bahrain Volume 6—Capital Markets
Part A
CSD — Clearing, Settlement and Depository
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Key aspects of the settlementG process that the legal framework should support include the following:

(a) Enforceability of transactions;
(b) Protection of customer assets, particularly against loss upon the insolvency of a custodian;
(c) Dematerialisation of securitiesG and the transfer of securitiesG by book entry;
(d) Netting arrangements;
(e) SecuritiesG lending, including repurchase agreements and other economically equivalent transactions;
(f) Finality of settlementG ;
(g) Margin trading and securities lending and borrowing;
(h) Arrangements for achieving deliveryG versus paymentG ;
(i) Default rulesG addressing the consequences of a member's default;
(j) Arrangement for registration of pledges and liens; and
(k) Liquidation of assets pledged or transferred as collateral to support members' obligations.
Amended: April 2016
(2 Versions)
May 1 2009 - Mar 31 2016Apr 1 2016 onwards
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