Defines how the participant settles its netting obligations. It is the participant's responsibility to ensure that the correct settlement option is being utilized and does not contravene any local or international regulations. The drop-down list contains the following options:
Null value: represents
no value.
Net in Participant's Currency: represents
one funds transfer per participant. The
CitiNetting system nets all of the participant's payments against all
of its receipts and produces one funds transfer in its settlement currency.
Net in Transaction Currency: represents
one funds transfer per transaction currency. For
each transaction currency, the CitiNetting system nets the participant's
payments against its receipts and produces one funds transfer for that
transaction currency.
Gross of payments/receipts in Transaction Currency: represents
one funds transfer for the gross payments in each transaction currency.
For receipts,
the CitiNetting system produces one funds transfer for the gross receipts
in each transaction currency.
Gross of payments/receipts in Participant's Currency: represents
two funds transfers. The
CitiNetting system converts all of the participant's payments into its
settlement currency to produce the first funds transfer. The
system converts all of the participant's receipts into its settlement
currency to produce the second funds transfer.