Settlement Lock Overview

Table of Contents


Settlement Lock

A Settlement Lock on Holding Transfers has been introduced to remove uncertainty in delivery. Upon receipt of a valid request, the full unit quantity required for the fulfillment of the demand / scheduled settlement instruction / transfer is locked in accordance with the various lock types as detailed in the tables below. Partial locking is not supported.

Settlement Lock Descriptions

The following table describes the various Settlement Locks:

Settlement LockDescription
On Request - Mandatory 

A mandatory requirement to immediately lock securities in a Delivering Account (HIN).

On Request - OptionalA request to immediately lock securities in a Delivering Account (HIN).
On Matchrequest to immediately lock securities in a Delivering Account (HIN) at the time of matching.
Settlement LockA request to immediately lock securities in a Delivering Account (HIN) at any time after the initial instruction is sent and before settlement occurs.


Settlement Locks per Holding Transfer

The following table summarises Settlement Locks available for each type of Holding Transfer.


TRANSFER
Settlement Lock Request
Unilateral Demand Transfer
Bilateral Demand Transfer
Unilateral Settlement Instruction
Bilateral Settlement Instruction
Bilateral Demand Settlement Instruction
On Request - Mandatory 


On Request - Optional
On Match
Settlement Lock

* For Unilateral Settlement Instruction transfers, there is a subset where Delivering Account is of type Accumulation Entrepot and Receiving Account is of type Settlement Entrepot, where settlement locks will be applied automatically.



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