Correspondent

From Open Risk Manual

Definition

Correspondent. A bank, brokerage or other financial institution that is not a direct DTC member. Correspondents rely on direct DTC Participants to perform their DTC settlement services

See Also


Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.

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