long settlement transaction

79a transaction where a counterparty undertakes to deliver a security, a commodity, or a foreign currency amount against cash, other CRD financial instruments, or commodities, or vice versa, at a settlement or delivery date that is contractually specified as more than the lower of the market standard for this particular transaction and five business days after the date on which the person enters into the transaction.

[Note: Part 1 of Annex III of the Banking Consolidation Directive (Definitions)]79