System Updates for settlement Information

Status: Best Practice Finalised, Last updated: 06-10-2020

Introduction

Many maintenance procedures, such as collateral or loan instruction release, are dependent on timely settlement status updates. Those status updates are in turn dependant on the turnaround of custodial networks, whose response times may vary by location or service provider.

To ensure the smooth operation of markets, it is reasonable expect that both counterparts will have updated instructions and status within an hour of events. I.e. when settlement occurs, both parties’ systems should reflect that status in an hour or less.
(IBP-121)