The Bank of Mauritius, Central Securities Depository System
The Bank of Mauritius, Central Securities Depository, Online Auctioning and Securities Settlement System
In March 2012 the Bank of Mauritius put into operation a Central Securities Depository, Online Auctioning and Securities Settlement System (DEPO/X).
DEPO/X is a CMA Small Systems AB product which offers the full functionality of Central Securities Depository (CSD) system. DEPO/X offers full automation of depository operations for state and corporate securities covering all the steps constituting the full process of an auction such as registering, bidding and settlement. Due to its online integration with Real-Time Gross Settlement system (RTS/X, previously installed by CMA in 2009), DEPO/X can provide a true Delivery versus Payment (DvP) model. DEPO/X has been adjusted accordingly to fulfill The Bank of Mauritius requirements and the national regulating authorities and legislation terms.
DEPO/X is compliant with World Bank and BIS principles and recommendations regarding securities settlement and payment systems thus allowing the mitigation of all types of related risks. DEPO/X significantly reduces or even totally avoids all types of risks related to payment systems (legal, operational, financial, security and systemic).
Status: The system went into live operation in March 2012 according to the project schedule