Revised CATS Procedure Dec.20161

General
COMMERCIAL BANK OF ETHIOPIA December 1, 2016
ANNEX 6: The Opening and Operation of an ECX-Bank-
Settlement Account
• CATS’s CPC shall be the single point of contact for the ECX to open an account. An
Account-Clearing and Settlement Team will, therefore, be formed at a branch of
the CBE where the ECX settlement account is maintained. The Team will
comprise as its members a Maker and a Checker and be responsible for handling
the day-to-day operations and transactional instructions of the ECX.
• The account shall be opened for any member of the ECX who is not barred from
owning and operating bank accounts by the National Bank of Ethiopia due to
mal-operation.
• The ECX-related accounts to be opened are the following:
a. An ECX-settlement account;
b. Member pay-in;
c. Member pay-out (this could be an existing account);
d. Member clearing pay-in (if a member clears pay-ins for a non-clearing
member)
e. Client pay-in (if a member acts as an intermediary to other clients);
f. Client pay-out (if a member acts as an intermediary to other clients);
g. Member clearing pay-out (if a member clears for others);
h. Limited member pay-out (this can be an existing account);
i. Limited member client pay-out ( if a limited member acts as an
intermediary); and
j. Correspondent settlement bank accounts for the ECX (for inter-bank
transfers):
1. Correspondent
2. Mirror (mirror of own account in a correspondent bank).
CATS Procedure |
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