Settlement finality and netting make determined bullion-market obligations binding and prioritise collateral, deposits and margins for settlement. Settlement and netting for bullion exchange and bullion clearing corporation transactions follow the netting or grossing procedures prescribed in their ... Summary
Settlement finality and netting make determined bullion-market obligations binding and prioritise collateral, deposits and margins for settlement.
Settlement and netting for bullion exchange and bullion clearing corporation transactions follow the netting or grossing procedures prescribed in their respective bye-laws. Payments and settlements are final, irrevocable and binding once the money, securities or other transactions payable on a gross or net settlement have been determined, irrespective of actual payment. The right to appropriate contributed collateral, deposits or margins for settlement or other obligations has priority over other liabilities or claims against the contributor.
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