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

Delivery of the Certificates shall be made through the Same Day Funds Settlement System of the Depository Trust Company ("DTC").
If applicable, the Rules and Procedures Manual of the National Securities Clearing Corporation, as amended from time to time, including the rules and procedures applicable to the utilization of the Defined Contribution Clearing and Settlement System, Fund/SERV and NETWORKING, as amended from time to time, are hereby made a part of this agreement as if fully set forth herein and shall be a part of each processed transaction.
As long as the Debentures are represented by Global Securities registered in the name of the Depositary or its nominee, the Debentures will trade in the Depositary’s Same-Day Funds Settlement System, and secondary market trading activity in the Debentures will therefore settle in immediately available funds.
The Notes will trade in the Same-Day Funds Settlement System of The Depository Trust Company (the “Depositary” or “DTC”) until maturity, and secondary market trading activity for the Notes will therefore settle in same day funds.
This letter is addressed to the Non-registered holders of the Company only (‘‘Non-registered holder’’ means such person or company whose shares are held in The Central Clearing and Settlement System (CCASS) and who has notified the Company from time to time through Hong Kong Securities Clearing Company Limited to receive Corporate Communications).

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 means a system established and operated by the Authority or any other system for the discharge of payment obligations as well as of settlement of obligations in relation to securities;