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:
“When God at first made man,
Having a glass of blessings standing by,
“Let us,” said He, “pour on him all we can:
Let the world’s riches, which dispersed lie,
Contract into a span.””
—George Herbert (1593–1633)
“A Tory..., since the revolution, may be defined in a few words, to be a lover of monarchy, though without abandoning liberty; and a partizan of the family of Stuart. As a Whig may be defined to be a lover of liberty though without renouncing monarchy; and a friend to the settlement in the protestant line.”
—David Hume (1711–1776)
“If we consider what happens in conversation, in reveries, in remorse, in times of passion, in surprises, in the instructions of dreams, wherein often we see ourselves in masquerade,—the droll disguises only magnifying and enhancing a real element, and forcing it on our distinct notice,—we shall catch many hints that will broaden and lighten into knowledge of the secret of nature.”
—Ralph Waldo Emerson (1803–1882)