Commission Delegated Regulation (EU) 2017/392 of 11 November 2016 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on authorisation, supervisory and operational requirements for central securities depositories (Text with EEA relevance) (c. 392)

CHAPTER XII CSD LINKS (Article 48(3), (5), (6) and (7) of Regulation (EU) No 909/2014)

Article 87 DVP settlement through CSD links

Delivery versus payment (DVP) settlement shall be regarded as practical and feasible where:

(a)

there is a market demand for DVP settlement evidenced through a request from any of the user committees of one of the linked CSDs;

(b)

the linked CSDs may charge a reasonable commercial fee for the provision of DVP settlement, on a cost-plus basis, unless otherwise agreed by the linked CSDs;

(c)

there is a safe and efficient access to cash in the currencies used by the receiving CSD for settlement of securities transactions of the requesting CSD and its participants.