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Make No Payment

Or more accurately, associate an alternative payment method (which allow the option to make no payment to the subsidiary). For example, if all netting settlements are made by BACS but one subsidiary has net flows greater than the BACS limit, then this subsidiary could have an alternative settlement method allowing wire transfer.

Matching

The process of agreeing transactions between participants. Matching is usually completed on invoice number as a key field plus other criteria such as participant code, currency, amount, reference information etc. see also Mismatching.

Mismatching

This is a common problem needing to be fixed at many companies. The two versions of any transaction need to be matched and agreed in a tight time scale.

Month End Reconciliation

See Reconciliation.

Multi-lateral Netting

See Multilateral Netting

Multilateral Netting

An arrangement which allows settling of obligations such as payments, for multiple parties, through a central point (see also Intercompany Netting, FX Netting, Balance Netting).

Multilateral Netting System

Software that allows the calculation of the amount to offset and is owed to or owed by any one netting participant.

Multilateral Settlement System

The software and/or hardware needed to run a multilateral netting process.