{{short description|Financial market infrastructure}} The '''Bulgarian National Bank Government Securities Settlement System''' ('''BNBGSSS'''), sometimes referred to as the '''Government Securities Depository''' ('''GSD'''),<ref name=ECB07/> is one of two central securities depositories (CSDs) in Bulgaria, together with Central Depository AD. The main CSD for Bulgarian government securities, it is owned and operated by the Bulgarian National Bank.
BNBGSSS is one of three remaining central-bank-operated CSDs in the European Exchange Rate Mechanism that are mainly aimed at deposits of government securities, together with the National Bank of Belgium Securities Settlement System (NBB-SSS) and the Bank of Greece Securities Settlement System (BOGS). Other euro-area countries had similar systems in the past but have phased them out, e.g. France in 1995,<ref name=Norman>{{cite book |author=Peter Norman |title=Plumbers and Visionaries: Securities Settlement and Europe's Financial Market |date=2007 |publisher=John Wiley & Sons |location=London}}</ref>{{rp|283}} Finland in 1996,<ref>{{cite web |website=Euroclear Finland |access-date={{date|2025-2-16}} |url=https://www.euroclear.com/finland/fi/who-we-are/history.html |title=Suomalainen arvo-osuusjärjestelmä – digitalisaatiota jo vuodesta 1992}}</ref> Italy in 2000,<ref>{{cite web |website=Euronext |url=https://www.euronext.com/sites/default/files/2021-04/4300_MonteTitoli_Interview%20The%20VAN_eng.pdf |date=April 2021 |title=Monte Titoli, Competitiveness Guaranteed: Interview with Pierluigi Dimonopoli, Head of Issuer Services}}</ref> and Spain in 2003.<ref>{{Cite web|url=https://www.bolsasymercados.es/ing/About-BME/Companies|title=BME Group Companies|website=BME}}</ref>
==Overview==
BNBGSSS was established in 1992.<ref name=ECB07>{{citation |publisher=European Central Bank |url=https://www.ecb.europa.eu/pub/pdf/other/ecbbluebooknea200708en.pdf |date=August 2007 |title=Blue Book: Payment and securities settlement systems in the European Union - Volume II: non-euro area countries}}</ref>{{rp|13}} As it is operated by a National Central Bank of the Eurosystem, the BNBGSSS is exempt from authorization requirements that apply to other CSDs.<ref>{{cite web |website=National Bank of Belgium |access-date={{date|2025-2-11}} |url=https://www.nbb.be/en/payments-and-securities/securities-settlement-system-nbb-sss |title=The Securities Settlement System (NBB-SSS)}}</ref>
BNBGSSS connected to the Eurosystem's TARGET2-Securities (T2S) platform on {{date|2023-9-11}}, following an agreement between the BNB and ECB signed on {{date|2022-12-22}}.<ref>{{citation |website=European Central Bank |url=https://www.ecb.europa.eu/press/intro/news/html/ecb.mipnews221222.en.html |access-date={{date|2022-12-22}} |title=Central securities depository of Bulgarian National Bank joins T2S}}</ref>
==See also== * Financial market infrastructure
==References== {{reflist}}
Category:Central securities depositories of Europe Category:Bulgarian National Bank
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