Submission to the Reserve Bank of New Zealand on NZClear settlements & clearing system
The ASF New Zealand Market Subcommittee has written to the RBNZ to highlight some concerns with the new NZClear system. In response, the RBNZ has confirmed that it is committed to investigating how the new NZClear system can be modified to efficiently hold securitised issues and to settle trades of those securities. The RBNZ is also willing to engage with the ASF’s New Zealand Market Subcommittee on the preferred requirements to present to the RBNZ’s system’s developers for their assessment.
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