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:
“Grandfather sang it under the gallows:
“Hear, gentlemen, ladies, and all mankind:
Money is good and a girl might be better,
But good strong blows are delights to the mind.”
There, standing on the cart,
He sang it from his heart.”
—William Butler Yeats (1865–1939)
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“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)