GCSD Has Renewed Its Informational System24/12/2018
The work on a new system has started in 2016, as a large scale joint project of NBG and GCSD, private depository owned by Tbilisi stock exchange, important reform to reshape Georgian capital market landscape. It proved to be a prominent example of a successful official and private sector partnership.
The new System allows for riskless, fast and safe settlement of securities transactions. It offers automated solution for nearly all operations, including issue, secondary market transactions, pledges and Repos, corporate actions and redemptions. Process automation requires less time and manual intervention, thus reducing the cost, duly reflected in lower service fees.
The new System is operated by the Central Bank and hosted on its IT infrastructure. NBG ensures its continuous uninterrupted operation and security. Cash leg settlement is done in another system operated by NBG - RTGS. This allows under integrated model, for DvP settlement for all securities transactions in central bank money, using Banks' RTGS accounts at NBG.
GSSS systems packs a bunch of innovative features. It includes efficient tools for liquidity management, partial settlements, net settlement using optimization algorithms, autocollaterilaziton and intraday loan mechanisms, to name a few.