In order to reduce risk, and increase the settlement ratio, VPS will as of 15 September be able to offer a flexible settlement account structure to our settlement participants that act as Settlement Agents and their indirect participants in VPO. We will offer an Optional Settlement Account with similar functionality to a settlement account with particular settlement functionality (the broker account). An account labelled ‘Optional Settlement Account’ may be subject to partial deliveries when the counterparty is a CCP, and will be prioritised according to value as opposed to a time prioritization.
Settlement Agents who wish to use the Optional Settlement Account must, by instruction from their client, instruct VPS to register the account as an Optional Settlement Account with the VPS-system. Please send an e-mail to oppgjoer@vps.no requesting the application form. VPS will register the information with the VPS-system on behalf of the client.