Standing settlement instructions

How it is used

Usually plural and abbreviated SSI; these are reference details, not a recurring payment order.

Example sentences

1. The dealer verified the standing settlement instructions before the first bond trade.

   Account details are checked before funds or securities move.

2. An outdated agent name in the standing settlement instructions caused a delay.

   Stored reference data can affect many later settlements.

Common collocations

• verify standing settlement instructions
• update SSI

Related terms

• settlementThe final step of a payment or trade, when money or securities actually move from one party to the other and the deal is complete.
• correspondent bankA bank that provides services, such as making payments or handling trade documents, for another bank in a country or currency where that bank has no presence.

More terms: Payments & Cards

• credit card
• debit card
• wire transfer
• IBAN
• transaction
• credit limit
• contactless payment
• minimum payment
• direct debit
• chargeback
• merchant
• POS terminal