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Book V - Market infrastructures
Title VII - Transfer of ownership of financial instruments accepted by a central depository or settlement system
Article 570-3 from 06/10/2014 to 28/10/2018

Article 570-3 into force from to

  • Version into force from to
ELI : /en/eli/fr/aai/amf/rg/article/570-3/20141006/notes

The trade shall be recorded in the accounts of the buyer and the seller as soon as the custody account-keeper is informed that the order has been executed. This accounting record shall be regarded as book entry registration and imply transfer of ownership as of the effective trade settlement date mentioned in Article 570-2.

In the case of a sale that is not settled in full within a time period set by the rules of the clearing house or the settlement system, the accounting record shall be cancelled.

In the case of a partial settlement affecting multiple buyers, the accounting records shall be cancelled in part in proportion to the rights of each buyer.

Such cancellation of accounting records shall be without prejudice to action brought by the parties concerned.