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:
“I’m not making light of prayers here, but of so-called school prayer, which bears as much resemblance to real spiritual experience as that freeze-dried astronaut food bears to a nice standing rib roast. From what I remember of praying in school, it was almost an insult to God, a rote exercise in moving your mouth while daydreaming or checking out the cutest boy in the seventh grade that was a far, far cry from soul-searching.”
—Anna Quindlen (b. 1952)
“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)
“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)