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Which of the following steps is typical for an interbank FX trade process flow?

A.

Physical delivery

B.

Collateral management

C.

Negotiation of fees

D.

Settlement

Which one of the following statements regarding “single changes to default SSIs” is correct?

A.

The counterparty does not need to be notified about any alterations to original payment instructions or SSIs.

B.

Any alterations to original payment instructions or SSIs are to be agreed to by the relevant parties involved either by fax or e-mail.

C.

Alterations must be agreed to by the parties involved via a written legally binding document or an authenticated confirmation message.

D.

Alterations need to be agreed to by the relevant parties involved and must be verbally confirmed.

In FX trading a “third party beneficiary” is best described as:

A.

The issuer of a payment for the relevant trade distinct from the counterparty

B.

The issuer of a payment for the relevant trade identical to the counterparty

C.

The recipient of a payment for the relevant trade distinct from the counterparty

D.

The recipient of a payment for the relevant trade identical to the counterparty

Which SWIFT message type family is used for securities transactions?

A.

MT 3XX

B.

MT 2XX

C.

MT 5XX

D.

MT 1XX

What is the most frequently used settlement process for securities?

A.

Free of settlement payment

B.

Cash settlement

C.

Same day value settlement

D.

Delivery-versus-payment