default custodian

[rostic]

Я не могу понять, в каком значении используется эта фраза "default custodian" в данном отрывке. Помогите, пожалуйста. И еще, не очень понимаю, что подразумевается под "Netting procedures".

Фраза встречается в следующем контексте:
Clearing & Settlement Module

XXX provides a Clearing & Settlement module for securities and/or money which covers all trading/backoffice areas implemented in XXX. A straight-through processing rate of nearly100% can be achieved. Basic topics of the settlement module:
Functional Highlights
-Settlement orders are separated from the referenced trading transactions
-Settlements have their own workflow
-Automated selection of the settlement plan with manual adjustment if needed
-Flexibility to set up any required settlement plan
-Costs can be charged on settlement transactions
-Support of outgoing and incoming messages from SWIFT, SECOM, SIC, euroSIC networks
-Netting procedures triggered by external clearing organisations like virt-x
-Netting procedures triggered by agreements with counterparties
-Automatic calculation of the default custodian
- Container for a securities position

Спасибо большое за помощь

[adelaida]

имхо: Netting procedures - процедуры взаиморасчета

[rostic]

спасибо за идею, adelaida.