Clearing and settlement systems participants:

• Republican Unitary Enterprise "The Republican Central Securities Depository" (hereinafter - RUE "RCSD") - acts as a settlement depository;
• The National Bank of Belarus functions as a settlement bank;
• depositaries established correspondent relations with RUE "RCSD";
• banks admitted to the automated system of interbank settlements.
• Belarusian Currency and Stock Exchange (hereinafter - BCSE) - acts as clearing and settlement system operator.

Clearing "depot" accounts are open for settlements in the settlement bank and settlement depository. The remaining balance on the clearing account is not allowed.

BCSE determines the net liabilities of trade participants upon transactions to be executed before settlements.

S-T + 0, S-T + n and S-REPO settlements are carried out in the clearing and settlement system in accordance with the BCSE Regulations.

NS settlements are carried out by the seller and buyer independently, as agreed by the parties, in accordance with Belarusian legislation and in terms established by the participants.

Settlements in securities are based on the "delivery versus payment" principle, which is a key element of the risk management system implying advance reservation of securities and money resources.