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.


A company that controls, or is controlled by, or is under common control with the participant. Control of a company is defined as (a) ownership, control, or holding with power to vote 20% or more of a class of voting securities of the company; or (b) consolidation of the company for financial reporting purposes.

Updated: 16 Apr 2012

Source documents


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