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:
“What a battle a man must fight everywhere to maintain his standing army of thoughts, and march with them in orderly array through the always hostile country! How many enemies there are to sane thinking! Every soldier has succumbed to them before he enlists for those other battles.”
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“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)