Commercial Settlement System definition

Commercial Settlement System means a system commercially available to its member or participant firms, the purpose of which is to facilitate the settlement of transactions using money and/or assets held on or in one or more settlement accounts
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Commercial Settlement System means, as defined in the FCA Rules, a system commercially available to firms that are members or participants of the system, a purpose of which is to facilitate the settlement of transactions using money and/or assets held on one or more settlement accounts;
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Commercial Settlement System means a system commercially available to firms that are members or participants, a purpose of which is to facilitate the settlement of transactions using money and/or assets held on one or more settlement accounts.
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Examples of Commercial Settlement System in a sentence

  • The Delivery Versus Payment exemption essentially allows us to disapply the FCA CASS Rules relating to your money or assets for a short period of time when settling your transaction within a Commercial Settlement System, subject always to Applicable Law.

  • The rehabilitation of dwellings located in a flood plain in jurisdictions participating in the Flood Protection Management System shall comply with the applicable Federal Emergency Management Agency regulations and the “Design Manual for Retrofitting Flood-Prone Residential Structures”, or design standards determined by the local certified community.

  • A CSRF happens when a request coming to a browser is not made by the user himself.For example: www.a-test-website.com has a ‘logout’ page that can be accessed with a GET request.

  • The DvP exemption essentially allows us to disapply the FCA Rules relating to your money or assets for a short period of time when settling your transaction within a Commercial Settlement System, subject always to Applicable Law.

  • In summary, the DvP Exemption allows the Custodian to dis-apply the FCA Rules relating to your Securities for a short period of time when settling your transaction within a Commercial Settlement System, subject always to applicable FCA Rules.

  • Payment (DVP) exemption for treatment of Client Money & Custody Assets where we have entered into a transaction on your behalf that is traded on a venue that is classified as a Commercial Settlement System in accordance with the FCA Client Asset Rules.


More Definitions of Commercial Settlement System

Commercial Settlement System means the place where transactions are settled, as defined in the Irish Rules.
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Commercial Settlement System. The place where transactions are settled, as defined in the FCA Client Asset Rules and guidance. Such definition is available from us on request or can be found on the FCA’s website (xxx.xxx.xxx.xx).
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Commercial Settlement System means a system commercially available to firms that are members or participants, a purpose of which
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Commercial Settlement System means a system commercially available to firms that are members or participants, a purpose of which is to facilitate the settlement of transactions using money and/or assets held on one or more accounts with a central bank, central securities depository, central counterparty or any other institution acting as a settlement agent, which is used to settle transactions between participants or members of such a system; and
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Commercial Settlement System means, as defined in the FCA Rules, a system commercially available to firms that are members or participants of the system, a purpose of which is to facilitate the settlement of transactions using money and/or assets held on one or more settlement accounts. "CREST" means the centralised settlement system for securities trades on the London Stock Exchange. "Delivery Versus Payment" means a settlement procedure in which the buyer and the seller of an asset agree that the seller will pay the buyer upon the asset’s delivery to the seller. "ETC" means electronic trade confirmation, in which we confirm the details of transactions. "FCA CASS Rules" means the rules of the FCA relating to the protection of client money or assets as defined in the FCA Rules. "FCA Rules" means the guidance, rules and regulations of the FCA made pursuant to its powers under the Financial Services and Markets Act. "FCA" means the Financial Conduct Authority or any body that may replace it, being the regulator of the financial services industry in the UK that authorises and regulates CGL. "Limit Order" means an order to buy or sell a financial instrument at a specified price limit or better and for a specified amount. "Multi-Lateral Trading Facility" has the meaning set out in the FCA Rules. "Outside Custodian" means a custodian appointed by you to provide safe custody services in relation to your investments. "Order Execution Policy" means our policy which sets out how we will deal with your orders, as amended from time to time. "Regulated Market" has the meaning set out in the FCA Rules. "Retail Client" means as defined in the FCA Rules. "Sub-Custodian" means a bank or financial institution providing custody services in respect of a particular market or jurisdiction, on behalf of CGL.
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Related to Commercial Settlement System

  • payment system means a funds transfer system with formal and standardised arrangements and common rules for the processing, clearing and/or settlement of payment transactions;

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

  • Cash Payment System means a payment system that generates any transfer of funds through a transaction originated by cash, check, or similar paper instrument. This includes electronic payments to a financial institution or clearing house that subsequently issues cash, check, or similar paper instrument to the designated payee.

  • Standard Settlement Period means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Settlement System Code means the specifications, standards, methods, calculations and conventions established under the AUC Settlement System Code Rule 021, as amended or replaced from time to time;

  • Viatical settlement contract or “contract” means a written agreement entered into between a provider and a viator in which the provider will pay consideration that is less than the expected death benefit of the viator's policy in return for the viator's assignment, transfer, sale, devise, or bequest of the death benefit or ownership of the policy to the provider.

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Physical Settlement shall have the meaning specified in Section 14.02(a).

  • TARGET2 Settlement Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System is open.

  • Physical Settlement Date means the date specified as such in any Physical Settlement Notice, which shall be not earlier than 10 nor later than 20 Business Days after the date on which the Physical Settlement Notice is given.

  • Individual Settlement Payment means the amount payable from the Net

  • Disruption Cash Settlement Price means in respect of each Security, an amount in the Settlement Currency equal to the fair market value of the Share Amount (taking into account, where the Settlement Disruption Event affected some but not all of the Shares comprising the Share Amount and such non-affected Shares have been duly delivered as provided above, the value of such Shares), less the cost to the Issuer of unwinding any underlying related hedging arrangements, all as determined by the Issuer.

  • Net Settlement Fund means the Settlement Fund less: (i) any Taxes;

  • Automated drug dispensing system means a mechanical or electronic system that performs

  • Master Settlement Agreement means the settlement agreement and related documents entered into on November 23, 1998, by the state and leading United States tobacco product manufacturers.