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:
“It is a great pity—but ‘tis certain from every day’s observation of man, that he may be set on fire like a candle, at either end—provided there is a sufficient wick standing out.”
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“I always consider the settlement of America with reverence and wonder, as the opening of a grand scene and design in providence, for the illumination of the ignorant and the emancipation of the slavish part of mankind all over the earth.”
—John Adams (1735–1826)
“They had supposed their formula was fixed.
They had obeyed instructions to devise
A type of cold, a type of hooded gaze.
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These Negroes looked like men....”
—Gwendolyn Brooks (b. 1917)