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.
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Famous quotes containing the words standing, settlement and/or instructions:
“The day-laborer is reckoned as standing at the foot of the social scale, yet he is saturated with the laws of the world. His measures are the hours; morning and night, solstice and equinox, geometry, astronomy, and all the lovely accidents of nature play through his mind.”
—Ralph Waldo Emerson (1803–1882)
“Free from public debt, at peace with all the world, and with no complicated interests to consult in our intercourse with foreign powers, the present may be hailed as the epoch in our history the most favorable for the settlement of those principles in our domestic policy which shall be best calculated to give stability to our Republic and secure the blessings of freedom to our citizens.”
—Andrew Jackson (1767–1845)
“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)