Glossary

Updated 17 October 2016

The Committee on Payments and Market Infrastructures (CPMI) provides this glossary of payments and market infrastructure terminology as a reference to the standard terms and definitions used in connection with payment, clearing, settlement and related arrangements. Current definitions are now shown alongside the previous ones. You can generate a PDF version of the glossary here.

net settlement system

A funds or securities settlement system in which final settlement of transfer instructions occurs on a net basis at one or more discrete, pre-specified times during the processing day.

Updated: 16 Jun 2015

Source documents

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unwind

 Additional terms that are not included in the main glossary can be found in the previous version of the glossary.