{{short description|Financial market infrastructure}} {{Infobox company | name = National Bank of Belgium Securities Settlement System | logo = | image = | image_caption = | type = Subsidiary | industry = Financial services | founded = {{Start date and age|1991|01|02}} | founder = Belgian government | hq_location_city = Brussels | hq_location_country = Belgium | key_people = | products = Central securities depository | num_members = | num_employees = | owner = National Bank of Belgium | website = {{URL |https://www.nbb.be/en/payments-and-securities/securities-settlement-system-nbb-sss}} }}
The '''National Bank of Belgium Securities Settlement System''' ('''NBB-SSS''') is one of three central securities depositories (CSDs) in Belgium, together with Euroclear Bank and Euroclear Belgium.<ref>{{citation |publisher=International Monetary Fund |url=https://www.imf.org/en/Publications/CR/Issues/2023/12/07/Belgium-Financial-Sector-Assessment-Program-Detailed-Assessment-of-Observance-Assessment-of-542179 |date={{date|2023-12-8}} |title=Belgium: Financial Sector Assessment Program-Detailed Assessment of Observance-Assessment of the CPSS–IOSCO Principles for Financial Market Infrastructures Euroclear Bank}}</ref> The main CSD for Belgian government securities, it is owned and operated by the National Bank of Belgium.
NBB-SSS 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 Bulgarian National Bank Government Securities Settlement System (BNBGSSS) 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>
== History == NBB-SSS was established by Belgian law of {{date|1991-1-2}}. Its direct participants include EU-based credit institutions and investment firms as well as the Belgian Treasury administration, Clearstream Banking SA, Euroclear, Sicovam, other securities settlement systems, and the NBB itself.<ref>{{citation |title=Payment systems in Belgium |publisher=Committee on Payments and Settlement Systems |url=https://www.bis.org/cpmi/publ/d53p02be.pdf |date=2003}}</ref>{{rp|26}}
The securities held on NBB-SSS accounts are mostly government securities as well as short- and long-term securities issued by other government bodies and, to a limited extent, by private issuers. Issues other than those by the Belgian government are managed by issuing agents who participate in the NBB-SSS. As it is operated by a National Central Bank of the Eurosystem, the NBB-SSS 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>
NBB-SSS is connected to the Eurosystem's TARGET2-Securities (T2S) platform.<ref name=ECBlist>{{citation |website=European Central Bank |url=https://www.ecb.europa.eu/paym/target/target-professional-use-documents-links/t2s/shared/pdf/List_of_CSDs_connected_to_T2S.pdf |access-date={{date|2024-12-25}} |title=Central Securities Depositories (CSDs) connected to T2S}}</ref>
==See also== * Financial market infrastructure
==References== {{reflist}}
Category:Central securities depositories of Europe
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