Financial Markets

A CCP link is a cooperative framework that enables two independent clearing houses to handle eligible transactions across their respective participant networks. It gives a participant …

A central securities depository (CSD) operates the infrastructure used to register, safeguard, and transfer securities. It maintains authoritative records of investors' holdings and supports the completion …

In bond trading, the clean price is the security's quoted value before the settlement adjustment for interest accumulated since the most recent coupon date. Any applicable …

Clearing is the post-trade process that prepares obligations for completion by verifying trades, calculating what each participant is responsible for, and reducing offsetting amounts where appropriate. …

A clearing fund is a shared financial resource maintained within a central clearing system to manage losses that remain after a member fails and its available …

A clearing house is financial-market infrastructure that helps members determine what they owe one another after trades or payment instructions are submitted. It may offset or …

Under this basis, an entry is posted only once funds or other contractual consideration have actually changed hands. Authorising, arranging, or initiating the transaction does not …

A central counterparty (CCP) is a clearing institution that becomes the common contractual partner for trades accepted into its system. It replaces direct exposure between the …

A book-entry transaction is one carried out solely through records maintained in financial accounts. For investments, the relevant institution updates the holder's securities position instead of …

Blocking denotes placing cash or securities under a transfer restriction, temporarily preventing the holder from disposing of the covered assets until the restriction is removed. It …