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:
“I’m going out to fetch the little calf
That’s standing by the mother. It’s so young,
It totters when she licks it with her tongue.
I sha’n’t be gone long.—You come too.”
—Robert Frost (1874–1963)
“... 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)