Party that holds a portion of another party’s inventory of financial instruments within a location or market, effects or receives local deliveries versus payment, or free of payment, as directed by the global settlement agent. A local settlement agent may be a local custodian and/or a local clearing broker.
Data from ISO specification
This is the technical data from the specification document.
<businessRole
xmi:id="_PTVFRtp-Ed-ak6NoX_4Aeg_-1919987469"
name="LocalSettlementAgent"
definition="Party that holds a portion of another party's inventory of financial instruments within a location or market, effects or receives local deliveries versus payment, or free of payment, as directed by the global settlement agent. A local settlement agent may be a local custodian and/or a local clearing broker."
registrationStatus="Registered"
xmlns:xmi="http://www.omg.org/XMI" />