Print

The securities settlement system (VPO)

Securities transactions are settled in the securities settlement system. Settlement is made for claims in both securities and cash. In Norway, there is a joint settlement system for equity instruments, bonds and short-term paper, referred to as the securities settlement system (VPO). Securities brokers, banks and Norges Bank participate in the securities settlement system.

Norges Bank is the settlement bank for payment transactions related to trading in securities and financial derivatives in NOK. The Norwegian Central Securities Depository (VPS) and VPS Clearing are responsible for clearing these transactions.

Norges Bank continuously assesses the impact of securities settlements on financial stability.

More information on the securities settlement system:

• A more robust securities settlement system
  Box in Financial Stability 1/2004
• Securities settlement in Norway - How will developments in Europe affect the Norwegian system? (195 kB)
  Economic Bulletin 4/2003
• The division of work and responsibilities between Kredittilsynet and Norges Bank in relation to securities settlement systems