Central Securities Clearing System Plc ("CSCS") handles clearing and settlement for securities admitted on the OTC market. CSCS provides a safe and cost effective solution for depository services and holds the admitted OTC securities in a dematerialized 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.

Clearing and settlement of OTC securities are on a 'Delivery versus Payment'. Settlement banks are expected to fund their Central Bank account and ensure that trades processed through the designated accounts are promptly settled.

Settlement Cycle:

ClassSettlement Cycle
EquityT+3
BondT+2


The Central Securities Clearing System (CSCS) Plc is a Financial Market Infrastructure (FMI) incorporated on July 29, 1992 as a Private Limited Liability Company and commenced operations on April 14, 1997. CSCS' core business objectives centers on being the Depository, Clearing and Settlement Company for listed and traded securities in the Nigerian Capital Market. For more information, visit CSCS www.cscsnigeriaplc.com