Establishment of Settlement Guarantee Fund (SGF) at CSDIran

Central Securities Depository of Iran (CSDI), as the clearing house for trade transactions in Iran Capital Markets (Tehran Stock Exchange & Over the counter market), has launched the new service of settlement Guarantee Funds (SGF).
Main source for SGF is contribution of its members, who are clearing members and now trading members of their corresponding markets as well. The fund is intended to facilitate settlement of those trades. Defaulting members are penalized accordingly.
Each clearing member is required to contribute to the fund and provide a deposit, based on their daily clearing activity over the period of past three months, or may be determined by CSDI from time to time.