BSCP301 – Clearing, Invoicing and Payment

BSCP301 defines the processes that the Funds Administration Agent (FAA) shall use to carry out the transfer of funds in respect of Settlement between Parties and the Code Clearer for Trading Charges, Ad Hoc Trading Charges and Reconciliation Charges under the Code, and some ancillary activities. It also defines the processes by which Parties may reduce or increase the amount of Credit Cover held by the FAA in relation to that Party.

This BSCP focuses on the interfaces between the FAA and other agencies, and also covers the preparation of the Payment Calendar by the FAA and of the Settlement Calendar by the Settlement Administration Agent (SAA).




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