Cover IMF How To Notes
Buy Book in Print
How to Organize Central Securities Depositories in Developing Markets: Key Considerations
Author:
Ms. Froukelien Wendt
Search for other papers by Ms. Froukelien Wendt in
Current site
Google Scholar Close
https://orcid.org/0000-0003-2087-8630
,
Peter Katz null

Search for other papers by Peter Katz in
Current site
Google Scholar Close
, and
Alice Zanza null

Search for other papers by Alice Zanza in
Current site
Google Scholar Close
Series:
IMF How To Notes
Volume/Issue:
Volume 2019: Issue 001
Language:
English
Publication Date:
04 Feb 2019
DOI:
https://doi.org/10.5089/9781484397312.061
ISBN:
9781484397312
ISSN:
2522-7912
Pages:
27
Keywords:
FADHTN; HTN; financial market; private sector; single CSD; CSD operation; debt management; cash settlement; CSD operator; ownership structure; fixed cost; BNR authorities; Philippines government; authorization of the CSD; authorities in the Kyrgyz Republic; CSD technology; Central securities depositories; Securities; Government securities; Securities markets; Stock markets; Global; Europe; government securities market; Organize Central Securities depository; ConsiderationsHow-To note; develop market; key ConsiderationsHow-To note; key consideration; Asia and Pacific
Legal-disclaimer:
Fiscal Affairs Department (FAD) How to Notes offer practical advice from IMF staff members to policymakers on important fiscal issues. The views expressed in FAD How to Notes are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Download PDF (3 MB) Download Epub
The key objective of this note is to support authorities in their decision making about the optimal organization of central securities depositories (CSDs) in their country. For the purpose of this note, a CSD is defined as an entity that provides securities accounts, a securities settlement system, and central safekeeping services to market participants, which can be banks and other financial institutions. Authorities in developing markets, in particular central banks, may grapple with two questions: (1) whether to pursue a single CSD to increase market efficiencies and benefit from economies of scale and scope and (2) whether to partake in the governance of the CSD as owner or operator. This note presents seven considerations for authorities to take into account when answering these questions and determining the best model for their country.
  • Collapse
  • Expand
Cover IMF How To Notes
IMF How To Notes
ISSN:
2522-7912
Publisher:
International Monetary Fund