The disclosure framework on the Security Settlement System of Necigef (Nederlands Centraal Instituut voor Giraal Effectenverkeer B.V., the Dutch central institute for giro transferred securities) contains the answers submitted by Necigef. Necigef is a wholly owned subsidiary of AEX-Clearing & Depository B.V. which is a wholly owned subsidiary of Amsterdam Exchanges N.V., This framework is in response of the questionnaire prepared and issued by the G-10 Central Banks' Committee on Payment and Settlement Systems (CPSS) and the International Organisation of Securities Commissions (IOSCO) as part of the continuing co-operation between the two bodies on issues of shared concern. On request of both institutions, Amsterdam Exchanges N.V. publishes this disclosure framework on the Internet.
The disclosure framework is drafted for the purpose of information towards (potential) participants of the Securities Settlement System of Necigef, information which contains a/o the procedure of the clearing and settlement of the transactions in securities. The information contained in the disclosure document is for information purposes only and does not constitute any obligation towards participants or any third party.
This document is updated as to the date of May 1, 1998. Any changes in law, regulations, procedures or any other rules that apply to the clearing and settlement of transactions in securities, issued after the date mentioned above, are not taken into account when answering the questionnaire.
The authentic language in which the disclosure framework is issued is Dutch. When any discrepancy between the English and the Dutch version might occur, the Dutch version prevails. Although the content of the disclosure framework has been obtained from sources believed to be reliable, and representing the actual situation, Amsterdam Exchanges N.V. does not guarantee the accuracy or completeness of any information contained in the disclosure framework, nor shall it be in any way liable for any delay in keeping such information current.
Interested persons are advised to make inquiries and seek further information at the office of Necigef before acting on information contained in the following document.
NECIGEF
Mr. P.Bakker
Postbus 2555
1000 CN Amsterdam
Amsterdam, May 1st 1998
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