Settlement Bank definition

Settlement Bank means a participant whose PM account or sub-account is used to settle AS payment instructions,

Settlement Bank means Settlement Member or its Alternate Submission Location through which the Settlement Member provides CLS third party services.

Settlement Bank means a bank designated as such by Clearing Corporation from time to time for settlement of transactions.

Examples of Settlement Bank in a sentence

• In respect of other members, funds settlement is achieved in the books of Settlement Bank.

• Each Participant must inform the Company of: (i) its LEI, if applicable, (ii) any change to its email address within 24 hours after such change; (iii) any changes to the regulatory registration information of the Participant’s Authorized Users within two Settlement Bank Business Days of such change; and (iv) other information provided in the Participant Application and Agreement within five days after any such change.

• All FCM Participants must submit a daily Customer Segregated Account statement and a Cleared Swaps Customer Account statement, as applicable, through Company-approved electronic transmissions by 12:00 noon on the following Settlement Bank Business Day.

• The settlement bank also needs to sign a Settlement Bank Agreement with eSett.

• Clearing Corporation shall enable the settlement of eligible instructions of Members through CLS Bank by availing the third party services of a Settlement Bank.

More Definitions of Settlement Bank

Settlement Bank means a settlement member of the CHAPS and Town Clearing systems who has entered into contractual arrangements with the CGO to provide Assured Payment facilities for members of the CGO;

Settlement Bank means a bank holding accounts with regards to payments, where the discharge of obligations arising from a payment system takes place;

Settlement Bank means the bank which maintains the settlement accounts of all the member banks for settlement of clearing and / or other obligations.

Settlement Bank means a ►M3 PM account holder ◄ whose PM account or sub-account is used to settle payment instructions submitted by an ancillary system via the ASI;

Settlement Bank means a recognised bank which Giveall uses to settle (i.e. to pay into) the merchant or any other funds.

Settlement Bank means a duly licensed commercial banking institution accredited by SCCP for the Clearing and Settlement of the Cash Element of SCCP- Eligible Trades.

Settlement Bank means a participant whose PM account or sub-account is used to settle ancillary system payment instructions,