🇫🇷 Français🇬🇧 English

Book 3 · Release 1.1

Netting Rules

Multilateral netting · Controls · Settlement

Book 3 defines the Osnias multilateral netting rules: position calculation and aggregation, residual-balance processing, controls, dispute handling, finalisation and interaction with settlement executed by NNN nodes.

Denis Bouzon · · French & English

Drawings, ruler and building rules on a drafting table — illustration of clearing rules

Read the document

Open the French or English PDF, or consult the publication records on Zenodo and HAL.

French PDF English PDF Zenodo DOI HAL

A documented and auditable framework

Calculation and netting

End-user and node-level position calculations, aggregation, multilateral netting, the dispute window and finalisation of obligations.

Settlement and controls

Settlement escrow availability, inter-node settlement, finality states, exception handling and audit evidence.

International reference frameworks, including CPMI-IOSCO and FSB publications, are used as sources for analysis and design. Their inclusion does not prejudge the regulatory classification of Osnias or constitute a declaration of compliance.

Publication reference

Bouzon, Denis (2026). Book 3 — Netting Rules. Version 1.1. Zenodo.

  • DOI : 10.5281/zenodo.22922199
  • HAL identifier: hal-05760527
  • Languages: French and English
  • Document licence: Creative Commons Attribution 4.0 International (CC BY 4.0)

Previous version (Release 1.0): Zenodo · DOI 10.5281/zenodo.22914086

Technical and functional recommendation document. It does not constitute legal, regulatory, accounting or audit advice.