Firstly, a new type of settlement for transactions involving domestic government bonds (OVGZ) has been introduced — "securities delivery against securities delivery." This will facilitate the settlement of a new method of OVGZ placement — through auctions for the placement of OVGZ with a simultaneous exchange for OVGZ of another issue that is currently in circulation.
The implementation of these new auctions will enable the Ministry of Finance of Ukraine to conduct active operations aimed at enhancing the efficiency of managing the domestic government debt.
Secondly, the possibilities for cross-border settlements in OVGZ transactions have been expanded through a "link" between the National Bank's depository and the foreign depository Clearstream Banking Luxembourg (Clearstream). In addition to the existing "delivery of securities without payment" settlements, a new settlement method based on "delivery of securities against payment" has been introduced. Under this settlement method, the National Bank's depository will ensure the execution of monetary settlements simultaneously with the delivery of OVGZ. At the same time, monetary settlements will be conducted between accounts opened in the National Bank of Ukraine's Electronic Payment System. This aligns with the best global practices, which require settlements in "central bank money" for securities transactions.