Cash Memorandum Account

Cash Memorandum Account
abbr CMA This is a record of each CREST Member's payment obligations. These accounts do not represent cash, but rather instructions to members' payment banks to transfer funds at the end of the day. This is settlement on the business day following the day of the trade and is normal settlement for gilts and new issues. Not to be confused with CS ( cash settlement), a trade reporting condition allowing advanced settlement of CREST eligible securities on a one business day basis. Dresdner Kleinwort Wasserstein financial glossary

Financial and business terms. 2012.

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