NZCDC's settlement system ("Settlement System") is a designated settlement system under part 5C of the Reserve Bank of New Zealand Act 1989. The Settlement System is regulated jointly by the Reserve Bank of New Zealand and the Financial Markets Authority.
A designated settlement system is required to have, amongst other things, rules that govern the operation of the system, and those persons that interact with the system. For NZCDC's Settlement System, these rules comprise NZCL's Clearing and Settlement Rules ("C&S Rules"), and NZDL's Depository Operating Rules ("DO Rules").
Each Rule set also has a related set of Procedures.
You can download a copy of the current Rules and Procedures here:
As a condition of designation NZCDC is required to perform a self assessment against Recommendations for Securities Settlement Systems and Recommendations for Central Counterparties published by the International Organisation of Securities Commissions. Copies of the self assessments can be found here: