Template:Nutshell 2016 CSA Local Business Day
“Local Business Day” means:
- (ii) Dematerialised securities: for securities transfers inside a clearance system, a day on which that clearance system accepts and executes settlement instructions
- (i) Cash and other property : for cash transfers, a day on which commercial banks are open where the relevant account is located and in the principal financial centre for any relevant currency;
- (iii) Resolution Time: for a Resolution Time, a day on which commercial banks are open in at least one Valuation Date Location for Party A and at least one Valuation Date Location for Party B; and
- (iv) Notices: for any communication, a day on which commercial banks are open in the place specified for the recipient in the notices section.