A linked Financial Settlement is where two or more Workspaces are associated (linked) in PEXA for the purpose of Financial Settlement. Linked settlements are used when destination funds from one Workspace are to be used as source funds in another Workspace.
The dealings are unrelated from a lodgement perspective, but are related from a funding perspective.
Simultaneous (at the same time); If one cannot proceed to settlement, none can proceed. These must be scheduled for the same time and date. Note: Earlier successful settlements cannot be unwound.
What rules do PEXA apply for linked of Workspaces for Financial Settlement?
The Participant acting for the vendor in the preceding workspace must be the same as the Participant acting for the purchaser in the trailing Workspace.
Vendor proceeds from the preceding workspace must be used as Purchasers equity in the trailing Workspace/
Linked Simultaneous Settlement Linked Simultaneous Settlements must settle at the same time, one cannot proceed to settlement unless all proceed.
Preceding Workspace The first Workspace in a Linked Financial Settlement.
Trailing Workspace The following Workspace in a Linked Financial Settlement. Additional articles: