Securities Clearing and Settlement on Ghana Stock Exchange : A Study of an Emerging Stock Market

Abstract

The purpose of this dissertation is to illustrate the securities clearing and settlement on Ghana Stock Exchange in the light of international standards set for these processes. The method used was to survey existing literature of clearing and settlement and emerging market countries and compare and contrast it with data concerning clearing and settlement processes on Ghana Stock Exchange.

The findings of the research were that Ghana Stock Exchange fulfils many of the existing international standards; however there are some major deficiencies. As the lack of studies concerning the topic has been addressed, the value of this dissertation was to identify main characteristics of clearing and settlement on Ghana Stock Exchange in order to evaluate and assess the processes.