Standard settlement instructions (SSIs) need to be exchanged where possible as they minimize the chances of incorrect/incomplete instructions being exchanged.
One day prior to settlement or on the settlement date (up to a cut-off time), payment instructions are sent to the nostro bank for all the amounts owed. These instructions advise the nostro bank of the counterparty’s nostro agent’s name, SWIFT address, and account numbers if applicable.
Settlement and payment systems in FX markets
Settlement Failures in FX markets
Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
ReplyDeleteAscom Leasing IPO