Derivatives · glossary
A day when London banks are open and the euro payment system works. Most deadlines in the agreement count in these days: one to dispute a figure, one to meet a collateral call and two to object to a Confirmation. Definition: Local Business Day · Chapter 7
Explained in Chapter 7, Payments, Netting and the Calendar, of Derivatives.
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Derivatives and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
a day on which commercial banks are open for general business in London and which is also a TARGET Settlement Day, that is, a day on which the real-time gross settlement system operated by the Eurosystem is open for the settlement of payments in euro;Read the definition in the document →
Related terms
Where this term lives
This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Derivatives → · All terms A–Z →