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the tote's payment in respect of fixed odds betting are similar to other bookmakers whereas the payments for its pool betting operations are settled between the tote and the horseracing levy board.
the tote's payment in respect of fixed odds betting are similar to other bookmakers whereas the payments for its pool betting operations are settled between the tote and the horseracing levy board.

--- « ancillary system ( as ) » means a system managed by an entity that is subject to supervision and / or oversight by a competent authority and complies with the oversight requirements for the location of infrastructures offering services in euro , as amended from time to time and published on the ecb website ( 1 ) , in which payments and / or financial instruments are exchanged and / or cleared while the resulting monetary obligations are settled in target2 in accordance with guideline ecb / 2007/2 and a bilateral arrangement between the ancillary system and the relevant cb , --- « ancillary system central bank ( ascb ) » means the eurosystem cb with which the relevant as has a bilateral arrangement for the settlement of as payment instructions in the pm , --- « ancillary system interface ( asi ) » means the technical device allowing an as to use a range of special , predefined services for the submission and settlement of as payment instructions , --- « available liquidity » ( or « liquidity ') means a credit balance on a target2 participant 's pm account and , if applicable , any intraday credit line granted by the relevant cb in relation to such account ,
--- « ancillary system ( as ) » means a system managed by an entity that is subject to supervision and / or oversight by a competent authority and complies with the oversight requirements for the location of infrastructures offering services in euro , as amended from time to time and published on the ecb website ( 1 ) , in which payments and / or financial instruments are exchanged and / or cleared while the resulting monetary obligations are settled in target2 in accordance with guideline ecb / 2007/2 and a bilateral arrangement between the ancillary system and the relevant cb , --- « ancillary system central bank ( ascb ) » means the eurosystem cb with which the relevant as has a bilateral arrangement for the settlement of as payment instructions in the pm , --- « ancillary system interface ( asi ) » means the technical device allowing an as to use a range of special , predefined services for the submission and settlement of as payment instructions , --- « available liquidity » ( or « liquidity ') means a credit balance on a target2 participant 's pm account and , if applicable , any intraday credit line granted by the relevant cb in relation to such account ,