commercial book-entry system
(CBES)
Noun


A multitiered automated delivery-versus-payment (DVP) system operated by the US Treasury for purchasing, holding and transferring of marketable securities in which an investor’s ownership of securities is reflected on the records of the account at the depository institution or Federal Reserve bank where the account is maintained.

Synonym(s): 
  • Treasury/Reserve Automated Debt Entry System (TRADES).