So here we are as the global custodian and one of our clients has decided to do a transaction. Now, a transaction is an agreement carried out between two parties involved the exchange of securities for cash. So in this example, our client agrees on a transaction using an intermediary, a broker. Our client is buying securities and must therefore pay money to the broker to obtain these securities. As we the custodian hold the client securities in custody, our client needs to send us an instruction to deliver the cash to the counterparty, the broker in the market in exchange for these securities. In the securities industry, each party to a trade, the buyer and the seller needs to process a settlement instruction to the CSD, the Central Securities Depository. At the CSD, these two instructions are matched up and paid. The instructions have the full details of the market order. As a custodian, we proactively receive these details from our clients. They will usually be to instruct us to deliver securities if they're selling in exchange for payment. That's called DVP, delivery versus payment, or as in this case, receive securities if they are buying in exchange for payment, an RVP, receipt versus payment.