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| Definition Of: |
exchange-for-value settlement system
A system which involves the exchange of assets, such as money, foreign exchange, securities or other financial instruments, in order to discharge settlement obligations. These systems may use one or more funds transfer systems in order to satisfy the payment obligations which are generated. The links between the exchange of assets and the payment system(s) may be manual or electronic. See also: delivery versus payment (DVP) system
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Banking INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 A: Page 1 of 3.
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