Settlement Cycle
A settlement cycle is the recurring sequence and timetable used to collect obligations, calculate positions, secure funding, execute settlement, and report results.…
Glossary terms starting with S
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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…
Settlement Instruction Failure
Settlement Instruction Failure is the failure of a settlement instruction to pass validation, reach the settlement system, or execute as intended. It…
Settlement Instruction ID
Settlement Instruction ID is a unique identifier assigned to a settlement instruction for tracking, deduplication, status inquiry, and reconciliation. It identifies the…
Settlement Instruction Status
Settlement Instruction Status is the current processing condition of a settlement instruction, such as received, validated, queued, settled, rejected, or failed. It…
Settlement Instruction Validation
Settlement Instruction Validation is the checks applied to a settlement instruction before execution to confirm format, authority, account, currency, amount, timing, and…