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:
“We all have known
Good critics, who have stamped out poet’s hopes;
Good statesmen, who pulled ruin on the state;
Good patriots, who, for a theory, risked a cause;
Good kings, who disembowelled for a tax;
Good Popes, who brought all good to jeopardy;
Good Christians, who sat still in easy-chairs;
And damned the general world for standing up.—
Now, may the good God pardon all good men!”
—Elizabeth Barrett Browning (1806–1861)
“The Puritans, to keep the remembrance of their unity one with another, and of their peaceful compact with the Indians, named their forest settlement CONCORD.”
—Ralph Waldo Emerson (1803–1882)
“They had supposed their formula was fixed.
They had obeyed instructions to devise
A type of cold, a type of hooded gaze.
But when the Negroes came they were perplexed.
These Negroes looked like men....”
—Gwendolyn Brooks (b. 1917)