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Chapter 10: The Role of Accurate Static ... > 10.9 Country Information

10.9 COUNTRY INFORMATION

Countries are normally recognised by a two character ISO country code such as GB or US. Firms need to record the country of incorporation or residence of their trading parties and settlement agents so that:

  • They can produce a number of statistical returns that may be demanded by their governments. Some of these returns are concerned with investment regulation; others may be concerned with data required by tax authorities and also requirements imposed on the industry to supply the government with data used to compile the home country’s balance of payments data.
  • Some firms will wish to apply credit limits that restrict their exposure to individual countries.

1 Michael Simmons provided this definition in Securities OperationsA Guide to Trade and Position Management; John Wiley & Sons, 2002. Reproduced by permission of John Wiley and Sons Ltd.


  

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