interfaced settlement model

interfaced settlement model
Transactions are settled using an interface between the payment system and the SSS. As two systems are involved, they constantly communicate with each other. The security leg is settled in the SSS while the cash leg is settled in the RTGS. Examples of interfaced settlement models are the relationships between Monte Titoli and New BIREL in Italy, and between Interbolsa and SPGT in Portugal.

Euroclear glossary. 2008.

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