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Tunisie Clearing
Confidentiality – effectiveness – innovation

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On exchange operations

Last update : 19-02-2018

Tunisie Clearing receives daily from the Stock Exchange a file on transactions executed by brokers for settlement on T+3.

On-exchange transactions concern equities, corporate bonds and government securities except short term treasury bonds.

Brokers that have executed orders on behalf of banks must send re-delivery orders.

Re-delivery orders allow the coinciding of securities deliveries and cash payments between brokers and banks for on-exchange transactions executed by brokers for banks accounts; the settlement date being the one initiated by brokers.

In case of a fail of an on-exchange transaction or a re-delivery order, the operation is pended and notifications are sent to the market authority, the stock-exchange and the different counterparts. The fail will be recycled in the settlement system for a 4-day period.

In case of fail of on-exchange transaction executed on behalf of a bank and related to a redelivery order, Tunisie Clearing applies a matching principle in order that the fail of the transaction automatically implies the fail of the redelivery order.