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They would be cleared there before passing to settlement agencies.
It may make it harder to rationalise the continent's multifarious clearing and settlement agencies.
Virt-X, for instance, offers a "multi-settlement" system that encourages a certain amount of competition on price between Euroclear, Crest and SIS, the three big settlement agencies.
Agencies should consider the negative consequences of well-intended interventions: In the Kyangwali settlement, agencies have put posters up to show that beating and burning children is bad.
Stock exchanges, long seen as public utilities, should be competing companies; but clearing and settlement agencies, many of which are now companies, ought to be considered more as utilities.
Soon after the settlement, agencies for the elderly and disabled were flooded with clients complaining that their 24-hour split-shift care was being reduced, said Ben Taylor, a lawyer for the New York Legal Assistance Group, one of the agencies that brought the latest lawsuit.
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It is understood the employees were told the services required on Nauru were beyond the capabilities of a settlement agency.
As European cross-border share trading grows, so will demand for a single clearing and settlement agency, rather along the lines of America's Depository Trust and Clearing Corporation.
And he is now the central figure in a multimillion-dollar nationwide fraud scheme that the authorities say preyed on debt-ridden clients that his company, Mission Settlement Agency, was supposed to be helping.
At a meeting held on the island for staff, employees were told the services required on Nauru were beyond the capabilities of a settlement agency, Guardian Australia understood at the time.
Since February this year, the former has been using the London Clearing House, which works closely with (and may one day merge with) Crest, and the three Euronext members use Clearnet, a joint venture between Euroclear and the French clearing and settlement agency, Sicovam.
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