Jurisdiction(s):
United Kingdom

Key definition

Settlement definition

What does Settlement mean? In financial markets practice, settlement is the completion of a securities trade by delivering the securities to the buyer and paying the price to the seller, usually on a scheduled date after the trade (for example, T+2) and commonly on a delivery versus payment (DvP) basis. It is a descriptive market term rather than a single statutory definition, but is governed by legislation and market rules (including the UK onshored CSDR regime and the EU CSDR in Ireland, the Uncertificated Securities Regulations, the Settlement Finality Regulations, and central securities depository and CCP rulebooks). Key features include trade matching/affirmation, allocation of settlement...

Bank for International Settlements: legal framework, governance, committees and operations supporting central bank cooperation, Basel banking supervision standards and global financial stability (including the Financial Stability Board)

Published by a LexisNexis Financial Services expert

Practice notes

The work and foundations of BIS

The Bank for International settlements (BIS) supports central banks worldwide on matters of monetary and financial stability. Its headquarters are in Basel, Switzerland, with two representative offices in Hong Kong and Mexico City. Founded on 17 May 1930, it is the world’s oldest international financial organisation and regards itself as the principal centre for international central bank co-operation.

It began with the settlement and administration of repatriation payments after the First World War, though that function soon waned. The BIS has since been particularly pivotal during episodes affecting financial stability, including the oil shock and international debt crises. It is now widely recognised for its role in the regulation of internationally active banks and for establishing global standards for regulatory capital, known as the Basel Capital Accord.

Article 3 of its Statutes sets out clearly its purposes:

to advance the co-operation of central banks
to provide additional facilities for international financial operations
and to act as trustee or agent in connection with international financial settlement

Each year, over 5,000 senior officials from central banks and supervisory agencies take part in meetings organised by the BIS...

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Web page updated on 21/05/2026

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