Settlement Calendar
A settlement calendar defines the business days, holidays, cutoffs, processing windows, and value dates used to determine when obligations can settle. It…
Payment Infrastructure & Operations
Payment processing, operations, routing, fees and merchant infrastructure.
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Terms (702)
Settlement Confirmation
Settlement confirmation is authoritative evidence that a defined settlement obligation has been completed under the relevant system's rules. It should identify the…
Settlement Coordination
Settlement coordination aligns the participants, instructions, assets, accounts, timing, liquidity, and status information needed to complete related settlement obligations. It is especially…
Settlement Cost
Settlement cost is the total expense associated with completing settlement, including network or bank fees, processor charges, liquidity and funding costs, foreign…
Settlement Cycle
A settlement cycle is the recurring sequence and timetable used to collect obligations, calculate positions, secure funding, execute settlement, and report results.…
Settlement Date
The settlement date is the date on which a payment, trade, or financial obligation is scheduled or recorded as settled. It may…
Settlement Delay
Settlement delay is the elapsed time beyond the expected or contractual settlement point before an obligation is completed. It can result from…
Settlement Difference
A settlement difference is a mismatch between expected and actual settlement amounts, positions, dates, currencies, assets, fees, or transaction components. It may…
Settlement Domain
A settlement domain is the defined environment within which settlement rules, participants, accounts, assets, identifiers, and finality apply. Examples can include a…
Settlement Engine
A settlement engine is software that calculates settlement obligations and coordinates their validation, funding, execution, posting, and status. It may process gross…
Settlement Execution
Settlement execution is the act of submitting and applying the transfers or ledger postings that discharge settlement obligations. It follows calculation and…
Settlement Exposure
Settlement Exposure is the value at risk because payment obligations have been created but settlement is incomplete, reversible, delayed, or dependent on…
Settlement Fail
Settlement Fail is a settlement instruction or obligation that does not complete on its scheduled or required date. It describes non-completion by…
Settlement File
A settlement file is a structured file containing transaction, fee, adjustment, position, or payment data used to calculate, instruct, report, or reconcile…
Settlement Finality
Settlement finality is the point at which a transfer or discharge of an obligation becomes irrevocable and unconditional under the applicable rules…
Settlement Finalization
Settlement finalization is the operational process of completing all remaining actions needed to close a settlement obligation or cycle. It can include…
Settlement Flow
Settlement flow is the end-to-end sequence through which obligations move from eligibility and calculation to funding, execution, confirmation, posting, and reconciliation. It…
Settlement Funding
Settlement Funding is the process of making sufficient eligible funds available to meet upcoming settlement obligations. It is the activity of supplying…
Settlement Funding Account
Settlement Funding Account is the designated account from which settlement obligations are funded or into which settlement liquidity is placed. It is…
Settlement Funding Requirement
Settlement Funding Requirement is the amount and form of funds that must be available by a stated time to satisfy settlement obligations.…
Settlement Guarantee
A settlement guarantee is an enforceable commitment that eligible obligations will be settled even if a participant fails to provide the expected…
Settlement ID
A settlement ID is a unique identifier assigned to a settlement, settlement cycle, batch, position, or instruction. It allows related transactions, entries,…
Settlement Institution
A settlement institution is an organization that provides accounts, infrastructure, or authority for completing settlement. It may be a central bank, commercial…
Settlement Instruction
A settlement instruction is a formal message or record directing the transfer or posting of funds, securities, or other assets to discharge…