Central Banking

BOE - Delivery/ payment system

UK - Bank of England Executive Director for Financial Market Operations, Ian Plenderleith, said Thursday the new delivery versus payment system for the settlement of securities trade in the U.K. was a success.

Speaking at the European finance convention in Brussels, Plenderleith called the linking of securities transactions and payment systems "a major advance in reducing risk in financial systems."

The system, which was inaugurated Monday, is "working smoothly," he said.

Plenderleith said the

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