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.)
“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)
“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)