Standing Settlement Instructions (SSIs) 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 time used to settle the receiving agents is conserved. Limiting the trader to an SSI also lowers the likelihood of a fraud.
Read more about this topic: Financial Institution
Famous quotes containing the words standing, settlement and/or instructions:
“The exile is a singular, whereas refugees tend to be thought of in the mass. Armenian refugees, Jewish refugees, refugees from Franco Spain. But a political leader or artistic figure is an exile. Thomas Mann yesterday, Theodorakis today. Exile is the noble and dignified term, while a refugee is more hapless.... What is implied in these nuances of social standing is the respect we pay to choice. The exile appears to have made a decision, while the refugee is the very image of helplessness.”
—Mary McCarthy (1912–1989)
“A Settlement is above all a place for enthusiasms, a spot to which those who have a passion for the equalization of human joys and opportunities are early attracted.”
—Jane Addams (1860–1935)
“Realizing that his time was nearly spent, he gave full oral instructions about his burial and the manner in which he wished to be remembered.... A few minutes later, feeling very tired, he left the room, remarking, ‘I have no disposition to leave this precious circle. I love to be here surrounded by my family and friends.’ Then he gave them his blessing and said, ‘I am ready to go and I wish you goodnight.’”
—For the State of New Hampshire, U.S. public relief program (1935-1943)