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Quantitative Finance · Glossário

O que é Settlement instruction, standard settlement instruction?

Também chamado de: settlement instruction · standard settlement instruction

Definition 22.2 Research, Data and Risk Platforms · Capítulo 22 — Post-Trade Systems

A settlement instruction tells a settlement agent to deliver or receive a security against payment, with the quantity, amount, settlement date and both parties’ accounts. A standard settlement instruction (SSI) is the account details a counterparty uses for a given market, kept once as reference data so that each trade’s instruction is generated rather than typed.

The post-trade pipeline of this chapter: each booked trade is matched with the counterparty’s confirmation, affirmed before the cut-off, instructed from the SSI table and settled delivery versus payment; positions are then reconciled with the custodian. Every mismatch or difference (red) becomes a break in one queue, where it is classified, owned, fixed and aged.
Figure 22.1. The post-trade pipeline of this chapter: each booked trade is matched with the counterparty’s confirmation, affirmed before the cut-off, instructed from the SSI table and settled delivery versus payment; positions are then reconciled with the custodian. Every mismatch or difference (red) becomes a break in one queue, where it is classified, owned, fixed and aged.
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