Encyclopedia
Clearing Participation Certificate
Clearing participation certificate — a non-issuable documentary bearer security with mandatory centralized storage, issued by a clearing organization that has formed an asset pool, and confirming the right of its owner to require the clearing organization to pay its nominal value upon the occurrence of certain conditions. The aforementioned rights and the conditions for their exercise must be contained in a document subject to mandatory centralized storage. Clearing participation certificates are not issued directly to the owner of such securities1.
Federal Law No. 7-FZ dated February 7, 2011 "On Clearing and Clearing Activities", as amended on May 1, 2019, Article 24.3, paragraph 1 // RSZ RF. 2011. No. 7. Item 904. ↩