Glossary

Direct Participant/ Directly Participating Financial Institution

Is a Financial Institution directly connected to the financial infrastructure.

How does Directly Participating Financial Institution work?

Directly Participating Financial Institution is directly connected to the financial infrastructure such as Card Network, Clearing System and etc. It can act as a Sponsoring Financial Institution and allow access to those Financial Institutions which are not directly connected. They are responsible for all payments sent from or received on their accounts by themselves or any Indirect Participants operating through them. For instance, Direct Participant can grant a SWIFT connection to a party who does not have a possibility to gain it first-hand.

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