On exchange operations
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.