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Article 11 - Payment versus payment

Article 11
Payment versus payment

A SIPS operator using a payment versus payment mechanism shall eliminate principal risk by ensuring that the final settlement of one obligation occurs if and only if the final settlement of the linked obligation also occurs. This rule shall be followed regardless of whether settlement takes place on a gross or net basis and when finality occurs.

Official text · consolidated version 25/05/2021 (in force) Open full page ↗
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