Securities settlement systems

Securities settlement systems allow transfer of ownership of securities that are traded in organized exchanges or OTC. The transfer of ownership of securities is executed through the dematerialized securities accounts. Securities settlement systems are closely related to payment systems, since the transfer of ownership of securities is usually performed with simultaneous transfer of funds, observing the principle "delivery versus payment". The settlement of funds related to securities trading may be made on a gross or net basis.

In the Republic of North Macedonia, there are two systems for settlement of securities: Central Securities Depository and CB Bill Depository.