A Settlement Bank is a duly licensed commercial banking institution accredited by SCCP for the clearing and settlement of the Cash Element of SCCP-Eligible Trades. Each settlement bank has connectivity with the C&S System real-time and online.

Any depository facility recognized by the SCCP for the safekeeping and recording of ownership of Securities, which are the subject of the SCCP-Eligible Trades. The Depository has direct connectivity with the C&S System.