ANCILLARY SYSTEM

ancillary system: translation

"In particular, when reference is made in the TARGET context to ancillary systems ( AS); these include retail payment systems, large-value payment systems, foreign exchange settlement systems, money market systems, clearing houses and securities settlement systems (SSSs). AS systems do usually settle through TARGET their net positions either at the end of the day or at several times during the day." Euroclear Clearing and Settlement glossary