German translation: innerhalb definierter Bereiche miteinander abrechnen
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:
settle with each other in defined clusters
innerhalb definierter Bereiche miteinander abrechnen
English to German translations [PRO] Bus/Financial - Finance (general) / zentraler Abrechnungsservice
English term or phrase:settle with each other in defined clusters
AAA and BBB announced today the successful launch of their central settlement service for over-the-counter (OTC) credit derivatives transactions. The service, provided through AAA's Trade Information Warehouse, is the OTC derivatives industry’s only automated solution for calculating, netting and issuing payments between counterparties to bilateral contracts. The new service greatly reduces operating risks for users by replacing manually processed bilateral payments with automated, netted payments.
How the central settlement service works
With the new service, bilateral netting and settlement is completed and reports generated for counterparties early in the morning on settlement day. The function has been designed to enable payments associated with transactions confirmed through Deriv/SERV and residing in the Warehouse’s global contract repository to be netted by value date, currency and counterparty. Payments eligible for settlement include initial payments and one-time fees, coupon payments and payments associated with post-trade events.
The Warehouse generates bilaterally netted payment instructions and sends them to BBB for settlement. BBB automatically notifies its Settlement Members, who effect settlement through BBB on a multilateral, netted basis. Over time, the number of currencies in which payments can be made will be expanded from the initial five.
During the initial launch, which followed an extensive testing period, the participating dealers ***settled with each other in defined clusters***. During 2008 additional dealers will go live on the service, and participants will begin ***settling among each other outside of their defined clusters***. Also during 2008 the Warehouse’s settlement capabilities will be expanded in preparation for bringing buy-side firms on board.
Was ist unter dem eingesternten Ausdruck zu verstehen? Vielen Dank!