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.

funds transfer system (FTS)

A formal arrangement based on private contract or statute law, with multiple membership, common rules and standardised arrangements, for the settlement of money obligations arising between the members.

Updated: 1 Sep 2016

Source documents

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