Announcement, see asx, sorry my post failedClearPay DvP : Scope Outline7Implement BIS Model 1 (Stage 1) with contra debit facility or credit facilities for approved participants. At a later postOperation Date stage, implement Stage 2 as prioritised by NSXA or other customers.Participants and/or End Users deposit funds into an ISX.money and Flykk account respectivelyParticipants may be a required to deposit funds and/or may be offered intraday credit, or both.DvP Platform will maintain a real time running virtual intraday ledger for each non-retail Participant of i) buy value versus ii)sell value plus deposit value (or preapproved credit limit for wholesale).Where a Participant is in overdraw, system will not match the buy order until the Participant within their credit (or advance)limit, with each further sell orders positively contributing to their ledger balance, and each buy order negatively contributingto their ledger balance. Multiple bilateral settlements during the day will allow for adjustment of position if intra-settlementcredit not extended.Ledger shall be update in real-time using actual matched trade/order values.Where a Participant is beyond credit (or advance) limits, orders can in that time be matched by other Participants or queueduntil the requesting participant is back in the “black” on the virtual ledger.Net multilateral Participant settlement once per day, to take into account EU trading window (say 5am for previous day).Direct retail end users will maintain a positive gross position at all times, per trade.End Users may use FPS, SEPA Instant and debit cards for instant trading, or, a Flykk balance.
- Forums
- ASX - By Stock
- SP1
- Ann: iSignthis and NSX Limited enter into ClearPay Joint Venture
Ann: iSignthis and NSX Limited enter into ClearPay Joint Venture, page-601
-
- There are more pages in this discussion • 10 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SP1 (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
ACW
ACTINOGEN MEDICAL LIMITED
Will Souter, CFO
Will Souter
CFO
Previous Video
Next Video
SPONSORED BY The Market Online