Thailand: Financial Sector Assessment Program: Detailed Assessment of Observance of Thailand Securities Depository (TSD) of the CPSS/IOSCO Recommendations for Securities Settlement Systems

IMF Staff Country Reports, May 15, 2009

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Thailand: Financial Sector Assessment Program: Detailed Assessment of Observance of Thailand Securities Depository (TSD) of the CPSS/IOSCO Recommendations for Securities Settlement Systems

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Bibliographic details

• Published: May 15, 2009
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451836899.002

Summary

• This paper discusses the assessment of observance of Thailand Securities Depository (TSD) of the Committee of Payments and Settlement Systems (CPSS)/International Organization of Securities Commissions (IOSCO) recommendations for securities settlement systems for Thailand.
• On the basis of the assessment, it is recommended that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdiction.
• Confirmation of trades between market participants should occur as soon as possible after trade execution, but no later than the trade date (T+0).

Key findings and themes

• Assessment focus: observance of CPSS/IOSCO recommendations for securities settlement systems by TSD.
• Legal foundation: emphasis that securities settlement systems require a well-founded, clear, and transparent legal basis in the relevant jurisdiction.
• Trade confirmation timing: confirmation of trades between market participants should occur as soon as possible after trade execution, but no later than the trade date (T+0).
• Subject areas covered include:
  • Central counterparty clearing house
  • Central securities depositories
  • Financial institutions
  • Financial markets
  • International trade
  • Securities
  • Securities settlement systems
  • Trade balance

Policy recommendations and operational guidance

• Ensure securities settlement systems have a well-founded, clear, and transparent legal basis in the relevant jurisdiction.
• Require confirmation of trades between market participants as soon as possible after trade execution, but no later than trade date (T+0).

Content in this bundle

• Detailed Assessment of Observance of Thailand Securities Depositories
  • Detailed Assessment of Observance of Thailand Securities Depositories (Markdown version)
  • Detailed Assessment of Observance of Thailand Securities Depositories (PDF)