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for urgent payment orders the fifo principle shall also apply .
for urgent payment orders the fifo principle shall also apply .

to optimise the settlement of queued payment orders , the ecb may use the optimisation procedures described in appendix i.
to optimise the settlement of queued payment orders , the ecb may use the optimisation procedures described in appendix i.

in the case of urgent and normal payment orders , the payer may change the priority via the icm with immediate effect .
in the case of urgent and normal payment orders , the payer may change the priority via the icm with immediate effect .

--- « information and control module ( icm ) » means the ssp module that allows participants to obtain on-line information and gives them the possibility to submit liquidity transfer orders , manage liquidity and initiate backup payment orders in contingency situations , --- « icm broadcast message » means information made simultaneously available to all or a selected group of target2 participants via the icm , --- « indirect participant » means a credit institution established in the european economic area ( eea ) , which has entered into an agreement with a direct participant to submit payment orders and receive payments via such direct participant 's pm account , and which has been recognised by a target2 component system as an indirect participant , --- « insolvency proceedings » means insolvency proceedings within the meaning of article 2 ( j ) of the settlement finality directive , --- « instructing participant » means a target2 participant that has initiated a payment order , --- « intraday credit » means credit extended for a period of less than one business day , --- « liquidity transfer order » means a payment order , the main purpose of which is to transfer liquidity between different accounts of the same participant , --- « marginal lending facility » means a eurosystem standing facility which counterparties may use to receive overnight credit from a eurosystem cb at the pre-specified marginal lending rate , --- « marginal lending rate » means the interest rate applicable to the marginal lending facility , --- « multi-addressee access » means the facility by which branches or credit institutions established in the eea can access the relevant target2 component system by submitting payment orders and / or receiving payments directly to and from the target2 component system ;
--- « information and control module ( icm ) » means the ssp module that allows participants to obtain on-line information and gives them the possibility to submit liquidity transfer orders , manage liquidity and initiate backup payment orders in contingency situations , --- « icm broadcast message » means information made simultaneously available to all or a selected group of target2 participants via the icm , --- « indirect participant » means a credit institution established in the european economic area ( eea ) , which has entered into an agreement with a direct participant to submit payment orders and receive payments via such direct participant 's pm account , and which has been recognised by a target2 component system as an indirect participant , --- « insolvency proceedings » means insolvency proceedings within the meaning of article 2 ( j ) of the settlement finality directive , --- « instructing participant » means a target2 participant that has initiated a payment order , --- « intraday credit » means credit extended for a period of less than one business day , --- « liquidity transfer order » means a payment order , the main purpose of which is to transfer liquidity between different accounts of the same participant , --- « marginal lending facility » means a eurosystem standing facility which counterparties may use to receive overnight credit from a eurosystem cb at the pre-specified marginal lending rate , --- « marginal lending rate » means the interest rate applicable to the marginal lending facility , --- « multi-addressee access » means the facility by which branches or credit institutions established in the eea can access the relevant target2 component system by submitting payment orders and / or receiving payments directly to and from the target2 component system ;