NIPS Code and Payment order: Difference between pages

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''UK''.
An order or message requesting the transfer of funds (in the form of a monetary claim on a party) to the order of the payee. The order may relate either to a credit transfer or to a debit transfer.


The former Non-Investment Products Code.
== See also ==
* [[Automated clearing house system]]
* [[Batch]]
* [[Remote payment]]


The NIPS code has now been superseded.
The successor codes are the FX Global Code and the UK Money Markets Code.
The former NIPS code covered standards, controls and dealing mandates in the UK's wholesale financial markets.
Its scope included wholesale markets in:
*Sterling wholesale deposits;
*Foreign currency wholesale deposits;
*Gold and silver bullion wholesale deposits;
*Spot and forward foreign exchange; and
*Spot and forward gold and silver bullion.
== See also==
* [[Code of practice]]
* [[Controls]]
* [[Foreign exchange]]
* [[Forward]]
* [[FX Global Code]]
* [[Mandate]]
* [[Non-investment product]]
* [[Spot]]
* [[Standard]]
* [[UK Money Markets Code]]
* [[Wholesale]]
[[Category:Compliance_and_audit]]

Revision as of 14:20, 23 October 2012

An order or message requesting the transfer of funds (in the form of a monetary claim on a party) to the order of the payee. The order may relate either to a credit transfer or to a debit transfer.

See also


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