Settlement process - Ukraine


Settlement cycles

The standard settlement cycle for FoP trades is T+0/T+1/T+2.

Settlement flows in the OTC market

T+0Customer trades with counterparty.

Customer sends MT54x to operator.

Operator sends settlement instructions to the Depository of the National Bank Ukraine (NBU) on SD.


The NBU sends the settlement confirmation to the local operator.

Operator sends the confirmation back to CBL.

CBL settles the trades.


Securities are fully dematerialised and held on the account of Clearstream Banking S.A. at the National Bank of Ukraine and recorded under the name of Clearstream Banking S.A. in the books of the National Bank of Ukraine.

Physical securities

Not applicable, securities are fully dematerialised.

Stamp duty

No stamp duty applies to the Ukrainian market.


No penalties apply to the Ukrainian market.


Buy-ins do not apply to the Ukrainian market.