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:
“I’m telling the truth.
I’m standing at death’s door
and even today
my sight falls
on that thicket
on the Tpt’s pure banks,
just as before.”
—Hla Stavhana (c. 50 A.D.)
“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)
“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)