On the run and One-leg-out payment: Difference between pages

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imported>Doug Williamson
(Create page. Source: The Treasurer, Aug 2018, p15.)
 
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The most recently issued of a series of similar securities from an issuer.
''Payment Services Directive 2 (PSD2)''.


For example, the most recently issued 10 year US treasury (government) bond is on the run. Earlier issues are 'off the run'.
A one-leg-out payment is one where only one of two payment service providers involved is located in the European Union (EU).


In general, there is greater liquidity in the on the run issue. This can be reflected in higher price, lower yield. The higher liquidity occurs as the issue finds its way to longer-term holders' portfolios from primary dealers and more speculative buyers, prime brokers.
Also known as 'one leg' payments.


The term can also be applied to [[derivative instrument|derivatives]] related to securities.


<span style="color:#4B0082">'''''Transparency and cost'''''</span>


==See also==
:"PSD2 is set to bring improved transparency, as payments going out of the EU will be required to have transparency on cost, opening the way to better management of one-leg-out payments."


* [[Off the run]]
:''The Treasurer magazine, August 2018, p15.''


[[Category:Corporate_financial_management]]
 
[[Category:Investment]]
 
[[Category:Long_term_funding]]
== See also ==
[[Category:Treasury_operations]]
* [[European Union]]
[[Category:Financial_products_and_markets]]
* [[Payment service provider]]
* [[Payment Services Directive]]
* [[Payments and payment systems]]
* [[PSD2]]
* [[Single Euro Payments Area]]
 
 
 
===Other links===
[http://www.treasurers.org/node/10186?utm_source=Communicator&utm_medium=Email&utm_content=Untitled13&utm_campaign=Monthly+Newsletter+-+June+2014: EACT position paper on PSD2]

Revision as of 15:34, 3 August 2018

Payment Services Directive 2 (PSD2).

A one-leg-out payment is one where only one of two payment service providers involved is located in the European Union (EU).

Also known as 'one leg' payments.


Transparency and cost

"PSD2 is set to bring improved transparency, as payments going out of the EU will be required to have transparency on cost, opening the way to better management of one-leg-out payments."
The Treasurer magazine, August 2018, p15.


See also


Other links

EACT position paper on PSD2

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