Both companies will provide settlement services to the merged exchange, but a Clearstream spokesman said a merger between them was "quite a long way down the line."

An evaluation of settlement services across financial centres.

Front-end processors have connections to various card associations and supply authorization and settlement services to the merchant banks' merchants.

Sometimes, several businesses that offer settlement services are owned or controlled by a common corporate parent.

No longer did it have to rely on a sponsor bank to provide settlement services and sponsorship into bankcard associations.

Its banking activities also include securities trading, foreign exchange operations, precious metals operations, clearing operations and settlement services.

TARGET2 provides settlement services for a wide range of ancillary systems.

An eventual transfer of the settlement services to the new clearing house was not ruled out.

A primary distribution channel of Advent's bank products is by way of settlement services to electronic income tax return originators.

Regardless of the settlement method, Advent receives a fee from the originator for providing the settlement service.