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.

position netting

The netting of instructions, transactions or contracts in respect of obligations between two or more parties which neither satisfies nor discharges the original individual obligations. Position netting does not typically result in legally binding net obligations. Also referred to as payment netting in the case of payment instructions.

Updated: 16 Jun 2015

Source documents

U
unwind

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