Recommendation 1 Recommendation 2 Recommendation 3 Recommendation 4

Recommendation 5 Recommendation 6 Recommendation 7 Recommendation 8

Market selection

Recommendation 2

Securities Systems must allow the option of network access on an interactive basis. They should cope with peak capacity without any service degradation, and have sufficient standby capabilities to recover operations in a reasonably short period within each processing day.

1.	How often, over the last twelve months, has the depository been required to:
	Change its published settlement timetable?	Settlement cycles are agreed upon by the participants, and are normally not changed for any reason at all.
	Extend the time of opening for settlement input by users?	The Danish Securities Centre is open for settlement input 21 hours a day. The point of time is fixed by Danish legislation, and can not be changed incidentally.
	Delay start of day processing?	The point of time is fixed by Danish legislation, and can not be changed incidentally. The Depository can cope with peak capacity without any service degradation, and has sufficient standby capabilities to recover operations in a reasonably short period within each processing day.
2.	Does the depository operate real time or multiple batch processing for settlement?	The depository operates both BIS model 3 and BIS model 1. BIS model 3 is executed through five batch-processing cycles during a business day. BIS model 1 is executed real time during the business hours of the Danish Central Bank 8:00am. - 3:00pm.
3.	Does the depository allow interactive communication (on line real time) with its users, enabling settlement input and amendment?	Users communicate real time with VP through their online connection.
4.	Has the depository ever failed to recover an outage within the day or failed to start processing runs for a whole day; and, if so, when did that failure arise and what steps have been taken to prevent a similar event in the future?	This has never happened.