November 30, 2015
Reference data is either the root of all evil or the fountain of all good. My experience is that this is an 80:20 in the devil’s favour. Standing Settlement Instructions, SSI’s, are the subject of this week’s thoughts with inspiration coming from actual market experience where things really did not go according to plan. With […]
November 15, 2015
Last week’s post looked at Payment vs. Payment. This week, Delivery vs. Payment or DvP, the exchange of securities vs. payment. #3 Delivery vs. Payment (DvP) Securities settlement today falls into one of three methods; i) via an ICSD, an International Central Securities Depository, for example Euroclear, Clearstream or SIX, ii) a CSD, a domestic […]
November 8, 2015
Last week’s post looked at Payments. This week, Payment vs. Payment or PvP. This is when one currency can be exchanged for another; this is an essential ingredient for the settlement of FX trades. Delivery vs. Payment for securities will be next week’s topic. #2 Payment vs. Payment (PvP) FX is the biggest global market […]