Georgian Stock Exchange securities settlement system
In addition to NBG CSD System Georgian Stock Exchange Securities settlement System (GCSD) is operating since 1999. System Operator is JSC “Georgian Central Securities Depositary”. The main intension of this system is to provide nominal ownership of participant’s securities and provide clearing and settlement operations of these securities, except government securities. Settlement of securities is based on the Delivery versus Payment (DvP) principle, where securities and funds are transferred to GCSD relevant account in advance where the settlement agents of this system are the four commercial banks of Georgia.
The GSCD is a system owned by the Georgian stock exchange (the major shareholder) and four Georgian commercial banks.