New York Protocols are a set of rules and regulations governing the settlement of securities trades in the United States. They are designed to ensure efficient and accurate settlement of trades, and are used by the National Securities Clearing Corporation (SCC). The Protocols include standards for the timing of trade settlement, the exchange of trade information, managing risk, and resolving disputes. The Protocols are divided into four types: the Standard Settlement Instructions Protocol (SHIP), the Order Management Protocol (OMP), the Allocation Protocol (AP), and the International Securities Settlement Protocol (ISP). The SHIP outlines the requirements for the timing of trade settlement, the OMP covers the exchange of trade information, the AP provides guidance on risk management, and the ISP sets the rules for international securities settlements.
New York Protocols are a set of rules and regulations governing the settlement of securities trades in the United States. They are designed to ensure efficient and accurate settlement of trades, and are used by the National Securities Clearing Corporation (SCC). The Protocols include standards for the timing of trade settlement, the exchange of trade information, managing risk, and resolving disputes. The Protocols are divided into four types: the Standard Settlement Instructions Protocol (SHIP), the Order Management Protocol (OMP), the Allocation Protocol (AP), and the International Securities Settlement Protocol (ISP). The SHIP outlines the requirements for the timing of trade settlement, the OMP covers the exchange of trade information, the AP provides guidance on risk management, and the ISP sets the rules for international securities settlements.
