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Standard Settlement Instructions (Skis) are the agreements between two financial institutions which fix the receiving agents of each counterparty in ordinary trades of some type. These agreements allow traders to make faster trades since the time used to settle the receiving agents is conserved.
The term settlement instruction is a generic term used to describe the (only) mechanism by which trade settlement (the exchange of securities and cash) is initiated between seller and buyer.
A settlement bank is the last bank to receive and report the settlement of a transaction between two entities. It is the bank that partners with an entity being paid, most often a merchant.
As nouns the difference between settlement and payment is that settlement is the state of being settled while payment is (uncountable) the act of paying.
standing settlement instructions (SSI) Synonym: settlement instructions Standing settlement instructions are a market participant's default instructions for the payment and delivery of securities. They often differ depending on the type and denomination currency of the securities.
SSI (Standard Settlement Instruction) The set of details which defines how a financial institution (or part thereof) makes and receives payments in a specific currency and for specific type or set of transactions.
SSI (Standard Settlement Instruction) The set of details which defines how a financial institution (or part thereof) makes and receives payments in a specific currency and for specific type or set of transactions.
standing settlement instructions (SSI) Synonym: settlement instructions Standing settlement instructions are a market participant's default instructions for the payment and delivery of securities. They often differ depending on the type and denomination currency of the securities.
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