All listed Danish securities are deposited in dematerialised form in the Danish Central Securities Depository - VP Securities Services - and clients' securities holdings are registered on book-entry accounts in VP, totally segregated from Danske Bank's and other clients' holdings.
VP operates with six clearing and settlement blocks every 24 hours, with netting of customers’ positions in both cash and securities. Delivery and payment on a net basis are simultaneous. During daytime trading hours, there is also the possibility of real-time gross settlement (RTGS).
- Block 10: S-1 at 6.00pm
- Block 20: S-1 at 11.45pm
- Block 30: S at 6.00am
- Block 33: S at 9.20am
- Block 40: S at 10.15am
- Block 60: S at 12.00pm
- Block 50: S at 1.35pm
This efficient settlement cycle enables same day turnaround between the Danish market and ICSDs.
The Danish securities clearing system is based on local broker codes, custody account numbers and BICs. Clients must include the relevant numbers in the settlement instructions to obtain straight through processing (STP).
We work closely with our clients to ensure that they obtain a high STP rate and provide regular STP reports, including details on fields that need repair.
The settlement account manager assigned to each custody client keeps the client updated on the status of all trades and proactively advises of any settlement problems to ensure a speedy solution and settlement.
We provide the full range of SWIFT reporting in the ISO 15022 series covering the whole settlement process.