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payment orders in the queue , warehoused payment orders or new payment orders in favour of such participant shall be returned .
payment orders in the queue , warehoused payment orders or new payment orders in favour of such participant shall be returned .
payments orders in the normal queue shall be settled on a continuous basis including all highly urgent and urgent payment orders that have not yet been settled .
payments orders in the normal queue shall be settled on a continuous basis including all highly urgent and urgent payment orders that have not yet been settled .
an extended offsetting check determines whether offsetting payment orders are available in any of the payee 's queues regardless of when they joined the queue .
an extended offsetting check determines whether offsetting payment orders are available in any of the payee 's queues regardless of when they joined the queue .
while included in a running algorithm , a payment order shall not be reordered ( change of the position in a queue ) or revoked .
while included in a running algorithm , a payment order shall not be reordered ( change of the position in a queue ) or revoked .
however , if in the queue of the payee there are higher priority payment orders addressed to other target2 participants , the fifo principle may only be breached if settling such an offsetting payment order would result in a liquidity increase for the payee .
however , if in the queue of the payee there are higher priority payment orders addressed to other target2 participants , the fifo principle may only be breached if settling such an offsetting payment order would result in a liquidity increase for the payee .
except for highly urgent payment orders , the payer may change the queue position of payment orders in a queue ( i.e. reorder them ) via the icm .
except for highly urgent payment orders , the payer may change the queue position of payment orders in a queue ( i.e. reorder them ) via the icm .
( 2 ) an offsetting check shall determine whether the payee 's payment orders that are at the front of the highly urgent or , if inapplicable , the urgent queue are available to be offset against the payer 's payment order ( hereinafter « offsetting payment orders ') .
( 2 ) an offsetting check shall determine whether the payee 's payment orders that are at the front of the highly urgent or , if inapplicable , the urgent queue are available to be offset against the payer 's payment order ( hereinafter « offsetting payment orders ') .