Understanding the Central Securities Depository

The National Payment System Act 2021 and Regulations 2022 will enable an upgraded national payment and settlement system and central securities depository.

A key reform measure proposed relates to the dematerialisation of securities and modernising the securities settlement infrastructure through the setting up of a Central Securities Depository (CSD).  

Given the integration of the CSD with the payment system, this also presents a timely opportunity to review the current Real-time Gross Settlement (RTGS) with a view to include an automated clearing system.