Central Securities Clearing System Plc ("CSCS") shall handle clearing and settlement on the OTC market.
CSCS provides a safe and cost effective solution for depository services and holds the admitted OTC securities in a dematerialised form.
CSCS is Nigeria's annotation agent and shall when required, issue International Securities Identification Numbers (ISINs) to OTC securities traded on the NASD platform.
For more information visit CSCS site here
Clearing and settlement of OTC securities are on a 'Delivery versus Payment' on day T+3. Settlement banks are expected to fund their Central Bank account and ensure that trades processed through the designated accounts are promptly settled.
