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https://www.investopedia.com/terms/d/dvp.asp
Delivery versus payment is a securities settlement process that requires that payment is made either before or at the same time as the delivery of the securities. The process is meant to reduce the risk that securities could be delivered without payment or that payments could be made without the delivery of securities.
https://www.bis.org/cpmi/publ/d06.htm
Sep 09, 1992 · Delivery versus payment in securities settlement systems. The worldwide collapse of equity prices in October 1987 heightened the awareness of central banks of the potential for disturbances in settlements of securities transactions to spread to payment systems and to …
https://www.boj.or.jp/en/announcements/release_2018/data/rel180327a1.pdf
3 Delivery versus payment (DvP) 3.1 Definition of DvP DvP is defined in the existing international standards for financial market infrastructures, namely the Principles for financial market infrastructures (PFMIs).6 A DvP transaction involves the settlement of two linked obligations, namely the delivery of securities and the payment of cash.
https://bankingschool.co.in/indian-financial-system/what-is-delivery-versus-payment/
Delivery versus payment (DvP) is the mode of settlement system that stipulates that cash payment must be made prior to or simultaneously with the delivery of the security. The system ensures that unless the funds are paid, the securities are not delivered and vice versa and it completely eliminates the settlement risk in transactions.
https://www.bis.org/cpmi/publ/d06.pdf
1.4 The broad objective of the Delivery Versus Payment Study Group was to achieve a clearer understanding of mechanisms for achieving DVP and the implications of the design and operation of such mechanisms for credit and liquidity risks in securities clearance and settlement systems. SpecificFile Size: 407KB
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