Extended balance check and sweeping
Euronext Securities Oslo offer these services to ensure better control over the settlement process. Extended balance check is a service for settlement participants that have their securities on several accounts and prefer to see them all together when Euronext Securities Oslo carries out the balance checks. Sweeping provides for any residual holdings on a settlement account to be transferred to another account after each settlement cycle.
Extended balance check
- If securities required for settlement are not available, extended balance checking can be used to identify securities held on other accounts of the settlement participant.
- The service offers better control over the settlement process by allowing the investment firm to seek coverage from five additional accounts.
- The company may define the order of which the accounts will be prioritised for balance checking.
- Accounts included in the extended balance check program may not be a lending or borrowing account in the normal securities borrowing and lending program.
Sweeping
- Sweeping is available to all investment firms that participate in the settlement system.
- The service provides for any residual holdings on a settlement account to be transferred to another account after each settlement cycle.
- Sweeping takes place after balance checking has been carried out.