證券對替決濟制度上 集中當事者의 物權法的 地位

• 영문명: The Proprietary Position of Central Counterparty in Book Entry Settlement System Regarding Securities Held by Central Securities Depository
• 발행기관: 한국사법학회(구 한국비교사법학회)
• 저자명: 김이수(I-Su Kim)
• 간행물 정보: 『비교사법』比較私法 제14권 제3호(하), 983~1010쪽, 전체 28쪽
• 주제분류: 법학 > 법학
• 파일형태: PDF
• 발행일자: 2007.09.30

영문 초록

  As Central Counterparty(CCP) service is introduced into securities clearing system, its legal position in the settlement system naturally comes under scrutiny. From legal perspectives, korean securities settlement scheme is based on deemed possession of the securities in collective custody by Central Securities Depository(CSD). Particularly, korean law provides that only restricted book entries grant deemed possession on the person for whom an account is opened and managed(so called “two-tier structure”). And no legal facilities other than book entries give rise to the effect of possessing securities held by CSD. If CCP is to be put into settlement scheme, an securities account for CCP would be opened on the book managed by CSD, and debit or credit to the securities account of CCP would be done following conclusion of trade. Does CCP acquire proprietary right on the securities credited to its securities account? Or it merely procure the possession of securities in collective holding by CSD for the account holder at CSD from whose account securities are debited? Following the latter analysis, it must be first solved whether the procurement of possession can be performed by any method other than book entry and the settlement structure exceeding two-tier is allowed in korean applicable law. This article attempts to clarify these problems.

목차

Ⅰ. 序論
Ⅱ. 現行 證券對替決濟制度에 따른 所有權 變動要件
Ⅲ. 現行法上 計座記載 以外의 方式에 의한 多段階構造(multi-tier structure)의 可否
Ⅳ. 結論
【참고문헌】
[Abstract]

키워드

집중당사자 점유매개관계 이단계 증권대체결제제도 다단계 증권대체결제제도 예탁자계좌부 투자자계좌부 청산 결제 Central Counterparty Procurement of Possession Two-Tier Settlement System Multi-Tier Settlement System Clearing Member’s Account Ultimate Investor’s Account Clearing Settlement