Special Posting definition

Special Posting means a contingency arrangement to handle the situation where the computer of any of the Members, OTC Clear or the Clearing House Computer has failed to connect to SWIFT. The decision to trigger such arrangement shall be made at the request of the Member, OTC Clear or HKICL subject to the relevant approval(s) being sought in accordance with the provisions as set out in the Operating Procedures. This contingency arrangement is not applicable to payment instructions valued on any Supported Forward Day or to OTC Clear Debit Requests which request generation of OTC Clear Payment Instructions valued on any Supported Forward Day.
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Special Posting means a contingency arrangement to handle the situation where the computer of any of the Members or the Clearing House Computer has failed to connect to SWIFT. The decision to trigger such arrangement shall be made at the request of the Member or HKICL subject to the relevant approval(s) being sought in accordance with the provisions as set out in the Operating Procedures. This contingency arrangement is not applicable to payment instructions valued on Supported Forward Days.
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Examples of Special Posting in a sentence

  • Payment instructions for Supported Forward Days will not be effected by Special Posting.

  • Any Special Posting transactions not settled by the cut-off times for the respective payment instructions on the day of the request for Special Posting will be cancelled.

  • A request for Special Posting shall be made during the period referred to in the Operating Procedures.

  • Sending Members should reconcile the Special Posting report produced at the end of posting provided to them by HKICL and report discrepancies to HKICL immediately.

  • Any Special Posting transaction which passes validation criteria will be treated as a normal payment instruction and processed in the same way and manner as the payment instruction from which it originated.

  • The provisions of this part relating to CHATS Transactions effected by way of Special Posting shall be subject to the provisions of Rule 6.11.

  • The Members (except CLS Bank) who require Special Posting, or any Member (other than CLS Bank) when it is requested by HKICL to do so, should prepare a Special Posting authorisation letter and the instructions for Special Posting in electronic format and pass them to HKICL for triggering the operation of the Special Posting.

  • It is the Sending Member’s responsibility (or in relation to an OTC Clear Payment Instruction, the responsibility of the paying Member of the OTC Clear Payment Instruction) to ensure that there are sufficient funds in its Designated Settlement Account for settlement of Special Posting transactions.

  • Based on the message file received from CLS Bank, HKICL will capture the CLS Payment Instructions and trigger Special Posting for the affected CLS Pay- outs.

  • The Distributing Agent’s duty of care claims were thus precluded in light of these exculpation provisions, and any possible liability on the part of the directors would have to be based on some other theory.