clearing and settlement system definition

clearing and settlement system means a system established for-
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clearing and settlement system means a system or arrangement for the clearing or settlement of payment obligations in the financial system, in any currency, and in which there is a minimum of three participants, at least one of which is a financial institution.
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clearing and settlement system means a system or arrangement for the clearing or settlement of payment obligations in the financial system, in any currency, and in which there is a minimum of three participants, at least one of whom is a financial institution; and includes a system or arrangement for the clearing or settlement in the official currency of Sri Lanka, or for securities transactions, foreign exchange transactions or other transactions or financial contracts where the system or arrangement also clears or settles payment obligations arising from those transactions and contracts;
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More Definitions of clearing and settlement system

clearing and settlement system means a system or arrangement for the clearing or settlement of payment obligations or payment messages in which
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clearing and settlement system means a set of procedures whereby financial institutions present and exchange data and/or documents relating to funds or securities transfer to other financial institutions at a clearinghouse. The procedures often also include a mechanism for the calculation of participants‟ bilateral and/or multilateral net positions with a view to facilitating the final settlement of their obligations.
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clearing and settlement system means a system or arrangement to clear or settle payment obligations or instructions in which-
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clearing and settlement system means a system or arrangement for the clearing or settlement of payment obligations in the financial system, in any currency, and
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clearing and settlement system means a system or arrangement for the clearing or settlement of
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Related to clearing and settlement system

  • securities settlement system means a system that enables securities to be transferred and settled by book entry according to a set of predetermined multilateral rules.

  • settlement system means a system established and operated by the Bank to facilitate the transfer of funds for the discharge of payment and settlement obligations between system participants;

  • Retail Settlement Code means the code approved by the Board and in effect at the relevant time, which, among other things, establishes a distributor’s obligations and responsibilities associated with financial settlement among retailers and customers and provides for tracking and facilitating customer transfers among competitive retailers;

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • payment system means a funds transfer system with formal and standardised arrangements and common rules for the processing, clearing and/or settlement of payment transactions;