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:
“Perfect present has no existence in our consciousness. As I said years ago in Erewhon, it lives but upon the sufferance of past and future. We are like men standing on a narrow footbridge over a railway. We can watch the future hurrying like an express train towards us, and then hurrying into the past, but in the narrow strip of present we cannot see it. Strange that that which is the most essential to our consciousness should be exactly that of which we are least definitely conscious.”
—Samuel Butler (1835–1902)
“... if the Settlement seeks its expression through social activity, it must learn the difference between mere social unrest and spiritual impulse.”
—Jane Addams (1860–1935)
“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)