settlement system means any infrastructure whether or not connected to the auction platform that can provide settlement services, which may include clearing, netting, management of collateral, or any other services, which ultimately enable the delivery of allowances on behalf of an auctioneer to a successful bidder or its successor in title, and the payment of the sum due by a successful bidder or its successor in title to an auctioneer, carried out through either of the following:

settlement system means any real-time gross settlement system established under subsection (1).

settlement system means a system used to facilitate the settlement of transfers of funds or financial instruments;

Examples of settlement system in a sentence

Title to such of the shares as are recorded on the Share Register of the Company as being held in uncertificated form may be transferred only by means of the Settlement System in accordance with its rules and procedures.
Where Shares are for the time being admitted for settlement by means of a Settlement System such shares must be issued in uncertificated form in accordance with and subject as provided in the rules of the Settlement System.
A hand book on the WTO Dispute Settlement System, WTO, A WTO Secretarial Publication, Cambridge University Press (2004).5.
The Automated Transfer System, the second pillar and consisting of the Real-Time Gross Settlement System, Automated Clearing House and Centralized Securities Depository, was envisioned to act as the DAB-operated processor of all electronic payments, replacing the Afghanistan Clearing and Settlement System.
Sadiq, “The Two-Tier Settlement System: A Review of Current Newcomer Settlement Services in Canada,” (November 2004).

More Definitions of settlement system

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;

settlement system means the facilities and systems used to effect the clearing and settlement of transactions by NZX.

settlement system means, the system of a State Party used to facilitate settlement.

settlement system means those assets, systems and procedures for the calculation in accordance with the Pool Rules of payments which become due thereunder, as modified from time to time;

settlement system means a system for the holding and transfer of investment securities on records of the issuer or other records that constitute the primary record of entitlement to investment securities as against the issuer;

settlement system or “System”: means the Settlement Service;