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.


More Definitions of Commercial Settlement System

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 the place where transactions are settled, as defined in the Irish Rules.
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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 a system commercially available to firms that are members or participants, a purpose of which
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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, 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

  • 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:

  • Ontario Settlement Class means the settlement class in respect of the Ontario Action as defined in Schedule A.

  • 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;

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Operating Agreement, section 3.3. PJM Tariff, Xxxxxx, O.A.T.T., OATT or PJM Open Access Transmission Tariff: “PJM Tariff,” “Tariff,” “O.A.T.T.,” “OATT,” or “PJM Open Access Transmission Tariff” shall mean that certain PJM Open Access Transmission Tariff, including any schedules, appendices or exhibits attached thereto, on file with FERC and as amended from time to time thereafter. Plan:

  • Energy Settlement Area means the bus or distribution of busses that represents the physical location of Network Load and by which the obligations of the Network Customer to PJM are settled. Energy Storage Resource:

  • 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.

  • 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.

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