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Problems relating to securities settlement have to be solved

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Based on today’s report on securities settlement in the T2S system with Danish kroner, the Danish FSA states that the outstanding issues must be solved. The Danish FSA will follow up with the stakeholders in the Danish market.

”The Danish National Stakeholder Group” has published a report on the problems relating to the transition of the Danish securities market to T2S with Danish kroner. According to the report, some of the problems have been solved, which means that the Danish market again has an acceptable settlement rate (the share of securities transactions settled on time).

Attractive securities market

Effective settlement processes contribute to making the Danish securities market attractive for both domestic and foreign investors. Although the present settlement rate is on the same level as in several other European countries, it is important that the present problems are addressed with a view to increasing efficiency.

”It is important that all stakeholders in the Danish market have full focus on solving the outstanding problems within securities settlement. The Danish FSA will therefore follow up on the necessary improvement measures being implemented with the individual stakeholders”, says Anders Balling, Assistant Director General.

About T2S

T2S is a system for settlement of securities transactions which has been developed by the ECB and is used for settlement in euro. As of 29 October 2018, settlement in Danish kroner was also transferred to T2S. It appears from the report that the transition to T2S in October 2018 involved certain problems. Some of these problems have been solved, which means that the Danish market again experiences an acceptable settlement rate (the share of securities transactions settled on time). However, the underlying processes in the market are still characterised by lower efficiency than before the transition.

Link to the report

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Regulator Information

Abbreviation: DFSA
Jurisdiction: Denmark

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