diff --git a/pallets/common/src/traits/settlement.rs b/pallets/common/src/traits/settlement.rs
index 138083a82..a09ec3215 100644
--- a/pallets/common/src/traits/settlement.rs
+++ b/pallets/common/src/traits/settlement.rs
@@ -66,7 +66,7 @@ decl_event!(
         /// (did, venue_id, instruction_id, settlement_type, trade_date, value_date, legs, memo)
         InstructionCreated(
             IdentityId,
-            VenueId,
+            Option<VenueId>,
             InstructionId,
             SettlementType<BlockNumber>,
             Option<Moment>,
diff --git a/pallets/runtime/tests/src/asset_pallet/base_transfer.rs b/pallets/runtime/tests/src/asset_pallet/base_transfer.rs
index 2aaeca008..d5386fe13 100644
--- a/pallets/runtime/tests/src/asset_pallet/base_transfer.rs
+++ b/pallets/runtime/tests/src/asset_pallet/base_transfer.rs
@@ -219,7 +219,7 @@ fn base_transfer_locked_asset() {
         ));
         assert_ok!(Settlement::add_and_affirm_instruction(
             alice.origin(),
-            VenueId(0),
+            Some(VenueId(0)),
             SettlementType::SettleOnAffirmation,
             None,
             None,
diff --git a/pallets/runtime/tests/src/asset_pallet/controller_transfer.rs b/pallets/runtime/tests/src/asset_pallet/controller_transfer.rs
index 8d152d241..a7dd0ecc3 100644
--- a/pallets/runtime/tests/src/asset_pallet/controller_transfer.rs
+++ b/pallets/runtime/tests/src/asset_pallet/controller_transfer.rs
@@ -56,7 +56,7 @@ fn controller_transfer_locked_asset() {
         ));
         assert_ok!(Settlement::add_instruction(
             alice.origin(),
-            VenueId(0),
+            Some(VenueId(0)),
             SettlementType::SettleManual(System::block_number() + 1),
             None,
             None,
diff --git a/pallets/runtime/tests/src/asset_test.rs b/pallets/runtime/tests/src/asset_test.rs
index e1c5c99c4..5e34a2375 100644
--- a/pallets/runtime/tests/src/asset_test.rs
+++ b/pallets/runtime/tests/src/asset_test.rs
@@ -1938,7 +1938,7 @@ fn controller_transfer_locked_asset() {
         ));
         assert_ok!(Settlement::add_instruction(
             alice.origin(),
-            VenueId(0),
+            Some(VenueId(0)),
             SettlementType::SettleManual(System::block_number() + 1),
             None,
             None,
diff --git a/pallets/runtime/tests/src/portfolio.rs b/pallets/runtime/tests/src/portfolio.rs
index ac6e157ab..a373b5aa5 100644
--- a/pallets/runtime/tests/src/portfolio.rs
+++ b/pallets/runtime/tests/src/portfolio.rs
@@ -678,7 +678,7 @@ fn delete_portfolio_with_locked_nfts() {
         }];
         assert_ok!(Settlement::add_and_affirm_instruction(
             alice.origin(),
-            venue_id,
+            Some(venue_id),
             SettlementType::SettleOnAffirmation,
             None,
             None,
diff --git a/pallets/runtime/tests/src/settlement_pallet/execute_instruction.rs b/pallets/runtime/tests/src/settlement_pallet/execute_instruction.rs
index 642b3639f..145c4b062 100644
--- a/pallets/runtime/tests/src/settlement_pallet/execute_instruction.rs
+++ b/pallets/runtime/tests/src/settlement_pallet/execute_instruction.rs
@@ -61,7 +61,10 @@ fn execute_instruction_storage_pruning() {
 
         // Asserts all storage have been pruned
         assert_eq!(InstructionAffirmsPending::get(instruction_id), 0);
-        assert_eq!(VenueInstructions::iter_prefix_values(venue_id).next(), None);
+        assert_eq!(
+            VenueInstructions::iter_prefix_values(venue_id.unwrap()).next(),
+            None
+        );
         assert_eq!(
             InstructionLegs::iter_prefix_values(instruction_id).next(),
             None
diff --git a/pallets/runtime/tests/src/settlement_pallet/setup.rs b/pallets/runtime/tests/src/settlement_pallet/setup.rs
index 7b7b8112b..54524ba18 100644
--- a/pallets/runtime/tests/src/settlement_pallet/setup.rs
+++ b/pallets/runtime/tests/src/settlement_pallet/setup.rs
@@ -12,7 +12,7 @@ type Nft = pallet_nft::Module<TestStorage>;
 type Settlement = pallet_settlement::Module<TestStorage>;
 
 /// Calls [`create_and_issue_sample_asset`] and creates a venue for `asset_owner`.
-pub fn create_and_issue_sample_asset_with_venue(asset_owner: &User) -> (AssetID, VenueId) {
+pub fn create_and_issue_sample_asset_with_venue(asset_owner: &User) -> (AssetID, Option<VenueId>) {
     let asset_id = create_and_issue_sample_asset(&asset_owner);
 
     let venue_id = Settlement::venue_counter();
@@ -23,5 +23,5 @@ pub fn create_and_issue_sample_asset_with_venue(asset_owner: &User) -> (AssetID,
         VenueType::Other
     ));
 
-    (asset_id, venue_id)
+    (asset_id, Some(venue_id))
 }
diff --git a/pallets/runtime/tests/src/settlement_test.rs b/pallets/runtime/tests/src/settlement_test.rs
index 6988359a6..11087d5bd 100644
--- a/pallets/runtime/tests/src/settlement_test.rs
+++ b/pallets/runtime/tests/src/settlement_test.rs
@@ -484,7 +484,10 @@ fn token_swap() {
         assert_instruction_details(instruction_id, instruction_details);
 
         assert_affirms_pending(instruction_id, 2);
-        assert_eq!(venue_instructions(venue_counter), vec![instruction_id]);
+        assert_eq!(
+            venue_instructions(venue_counter.unwrap()),
+            vec![instruction_id]
+        );
 
         alice.assert_all_balances_unchanged();
         bob.assert_all_balances_unchanged();
@@ -614,7 +617,10 @@ fn settle_on_block() {
         );
 
         assert_affirms_pending(instruction_id, 2);
-        assert_eq!(venue_instructions(venue_counter), vec![instruction_id]);
+        assert_eq!(
+            venue_instructions(venue_counter.unwrap()),
+            vec![instruction_id]
+        );
 
         alice.assert_all_balances_unchanged();
         bob.assert_all_balances_unchanged();
@@ -746,7 +752,10 @@ fn failed_execution() {
             instruction_details
         );
         assert_affirms_pending(instruction_id, 2);
-        assert_eq!(venue_instructions(venue_counter), vec![instruction_id]);
+        assert_eq!(
+            venue_instructions(venue_counter.unwrap()),
+            vec![instruction_id]
+        );
 
         // Ensure balances have not changed.
         alice.assert_all_balances_unchanged();
@@ -864,7 +873,7 @@ fn venue_filtering() {
         assert_ok!(Settlement::allow_venues(
             alice.origin(),
             asset_id,
-            vec![venue_counter]
+            vec![venue_counter.unwrap()]
         ));
         assert_ok!(Settlement::add_and_affirm_instruction(
             alice.origin(),
@@ -886,7 +895,7 @@ fn venue_filtering() {
         assert_ok!(Settlement::disallow_venues(
             alice.origin(),
             asset_id,
-            vec![venue_counter]
+            vec![venue_counter.unwrap()]
         ));
         next_block();
         // Second instruction fails to settle due to venue being not whitelisted
@@ -992,7 +1001,7 @@ fn basic_fuzzing() {
         }
         assert_ok!(Settlement::add_instruction(
             alice.origin(),
-            venue_counter,
+            Some(venue_counter),
             SettlementType::SettleOnBlock(block_number),
             None,
             None,
@@ -2275,7 +2284,7 @@ fn basic_settlement_with_memo() {
 fn create_instruction(
     alice: &User,
     bob: &User,
-    venue_counter: VenueId,
+    venue_counter: Option<VenueId>,
     asset_id: AssetID,
     amount: u128,
 ) -> InstructionId {
@@ -2677,7 +2686,7 @@ fn add_and_affirm_nft_instruction() {
         }];
         assert_ok!(Settlement::add_and_affirm_instruction(
             alice.origin(),
-            venue_id,
+            Some(venue_id),
             SettlementType::SettleOnAffirmation,
             None,
             None,
@@ -2786,7 +2795,7 @@ fn add_and_affirm_nft_not_owned() {
         assert_noop!(
             Settlement::add_and_affirm_instruction(
                 alice.origin(),
-                venue_id,
+                Some(venue_id),
                 SettlementType::SettleOnAffirmation,
                 None,
                 None,
@@ -2854,7 +2863,7 @@ fn add_same_nft_different_legs() {
         assert_noop!(
             Settlement::add_and_affirm_instruction(
                 alice.origin(),
-                venue_id,
+                Some(venue_id),
                 SettlementType::SettleOnAffirmation,
                 None,
                 None,
@@ -2910,7 +2919,7 @@ fn add_and_affirm_with_receipts_nfts() {
         }];
         assert_ok!(Settlement::add_instruction(
             alice.origin(),
-            venue_id,
+            Some(venue_id),
             SettlementType::SettleOnAffirmation,
             None,
             None,
@@ -2964,7 +2973,7 @@ fn add_instruction_unexpected_offchain_asset() {
         assert_noop!(
             Settlement::add_instruction(
                 alice.origin(),
-                venue_counter,
+                Some(venue_counter),
                 SettlementType::SettleOnAffirmation,
                 None,
                 None,
@@ -2983,7 +2992,7 @@ fn add_instruction_unexpected_offchain_asset() {
         assert_noop!(
             Settlement::add_instruction(
                 alice.origin(),
-                venue_counter,
+                Some(venue_counter),
                 SettlementType::SettleOnAffirmation,
                 None,
                 None,
@@ -3091,7 +3100,7 @@ fn affirm_offchain_asset_without_receipt() {
         }];
         assert_ok!(Settlement::add_instruction(
             alice.origin(),
-            venue,
+            Some(venue),
             SettlementType::SettleOnAffirmation,
             None,
             None,
diff --git a/pallets/settlement/src/benchmarking.rs b/pallets/settlement/src/benchmarking.rs
index 898ff77dc..88df935a7 100644
--- a/pallets/settlement/src/benchmarking.rs
+++ b/pallets/settlement/src/benchmarking.rs
@@ -209,7 +209,7 @@ where
     );
     Module::<T>::add_instruction_with_mediators(
         sender.origin.clone().into(),
-        venue_id,
+        Some(venue_id),
         settlement_type,
         None,
         None,
@@ -436,7 +436,7 @@ benchmarks! {
         let parameters = setup_legs::<T>(&alice, &bob, f, n, o, false, false);
         Module::<T>::add_instruction(
             alice.origin.clone().into(),
-            venue_id,
+            Some(venue_id),
             SettlementType::SettleOnAffirmation,
             None,
             None,
@@ -489,7 +489,7 @@ benchmarks! {
         let venue_id = create_venue_::<T>(alice.did(), vec![alice.account()]);
 
         let parameters = setup_legs::<T>(&alice, &bob, f, n, o, false, false);
-    }: _(alice.origin, venue_id, settlement_type, None, None, parameters.legs, memo)
+    }: _(alice.origin, Some(venue_id), settlement_type, None, None, parameters.legs, memo)
 
     add_and_affirm_instruction {
         // Number of fungible, non-fungible and offchain LEGS in the instruction
@@ -504,7 +504,7 @@ benchmarks! {
         let venue_id = create_venue_::<T>(alice.did(), vec![alice.account()]);
 
         let parameters = setup_legs::<T>(&alice, &bob, f, n, o, false, false);
-    }: _(alice.origin, venue_id, settlement_type, None, None, parameters.legs, parameters.portfolios.sdr_portfolios, memo)
+    }: _(alice.origin, Some(venue_id), settlement_type, None, None, parameters.legs, parameters.portfolios.sdr_portfolios, memo)
 
     affirm_instruction {
         // Number of fungible and non-fungible assets in the portfolios
@@ -519,7 +519,7 @@ benchmarks! {
         let parameters = setup_legs::<T>(&alice, &bob, f, n, T::MaxNumberOfOffChainAssets::get(), false, false);
         Module::<T>::add_instruction(
             alice.origin.clone().into(),
-            venue_id,
+            Some(venue_id),
             SettlementType::SettleOnAffirmation,
             None,
             None,
@@ -613,7 +613,7 @@ benchmarks! {
         let parameters = setup_legs::<T>(&alice, &bob, f, n, o, false, false);
         Module::<T>::add_instruction(
             alice.origin.clone().into(),
-            venue_id,
+            Some(venue_id),
             SettlementType::SettleOnAffirmation,
             None,
             None,
@@ -650,7 +650,7 @@ benchmarks! {
         let parameters = setup_legs::<T>(&alice, &bob, f, n, T::MaxNumberOfOffChainAssets::get(), false, false);
         Module::<T>::add_instruction(
             alice.origin.clone().into(),
-            venue_id,
+            Some(venue_id),
             SettlementType::SettleOnAffirmation,
             None,
             None,
@@ -692,7 +692,7 @@ benchmarks! {
         let mediators: BTreeSet<IdentityId> = (0..m).map(|i| IdentityId::from(i as u128)).collect();
 
         let parameters = setup_legs::<T>(&alice, &bob, f, n, o, false, false);
-    }: _(alice.origin, venue_id, settlement_type, None, None, parameters.legs, memo, mediators.try_into().unwrap())
+    }: _(alice.origin, Some(venue_id), settlement_type, None, None, parameters.legs, memo, mediators.try_into().unwrap())
 
     add_and_affirm_with_mediators {
         // Number of fungible, non-fungible, offchain legs and mediators
@@ -709,7 +709,7 @@ benchmarks! {
         let mediators: BTreeSet<IdentityId> = (0..m).map(|i| IdentityId::from(i as u128)).collect();
 
         let parameters = setup_legs::<T>(&alice, &bob, f, n, o, false, false);
-    }: _(alice.origin, venue_id, settlement_type, None, None, parameters.legs, parameters.portfolios.sdr_portfolios, memo, mediators.try_into().unwrap())
+    }: _(alice.origin, Some(venue_id), settlement_type, None, None, parameters.legs, parameters.portfolios.sdr_portfolios, memo, mediators.try_into().unwrap())
 
     affirm_instruction_as_mediator {
         let bob = UserBuilder::<T>::default().generate_did().build("Bob");
@@ -730,7 +730,7 @@ benchmarks! {
         );
         Module::<T>::add_instruction_with_mediators(
             alice.origin.clone().into(),
-            venue_id,
+            Some(venue_id),
             SettlementType::SettleOnAffirmation,
             None,
             None,
@@ -760,7 +760,7 @@ benchmarks! {
         );
         Module::<T>::add_instruction_with_mediators(
             alice.origin.clone().into(),
-            venue_id,
+            Some(venue_id),
             SettlementType::SettleOnAffirmation,
             None,
             None,
diff --git a/pallets/settlement/src/lib.rs b/pallets/settlement/src/lib.rs
index 8eda8f1ab..13700d35d 100644
--- a/pallets/settlement/src/lib.rs
+++ b/pallets/settlement/src/lib.rs
@@ -522,7 +522,7 @@ decl_module! {
         /// Adds a new instruction.
         ///
         /// # Arguments
-        /// * `venue_id`: The [`VenueId`] of the venue this instruction belongs to.
+        /// * `venue_id`: The optional [`VenueId`] of the venue this instruction belongs to.
         /// * `settlement_type`: The [`SettlementType`] specifying when the instruction should be settled.
         /// * `trade_date`: Optional date from which people can interact with this instruction.
         /// * `value_date`: Optional date after which the instruction should be settled (not enforced).
@@ -531,7 +531,7 @@ decl_module! {
         #[weight = <T as Config>::WeightInfo::add_instruction_legs(legs)]
         pub fn add_instruction(
             origin,
-            venue_id: VenueId,
+            venue_id: Option<VenueId>,
             settlement_type: SettlementType<T::BlockNumber>,
             trade_date: Option<T::Moment>,
             value_date: Option<T::Moment>,
@@ -567,7 +567,7 @@ decl_module! {
         #[weight = <T as Config>::WeightInfo::add_and_affirm_instruction_legs(legs)]
         pub fn add_and_affirm_instruction(
             origin,
-            venue_id: VenueId,
+            venue_id: Option<VenueId>,
             settlement_type: SettlementType<T::BlockNumber>,
             trade_date: Option<T::Moment>,
             value_date: Option<T::Moment>,
@@ -769,7 +769,7 @@ decl_module! {
         #[weight = <T as Config>::WeightInfo::add_instruction_with_mediators_legs(legs, mediators.len() as u32)]
         pub fn add_instruction_with_mediators(
             origin,
-            venue_id: VenueId,
+            venue_id: Option<VenueId>,
             settlement_type: SettlementType<T::BlockNumber>,
             trade_date: Option<T::Moment>,
             value_date: Option<T::Moment>,
@@ -807,7 +807,7 @@ decl_module! {
         #[weight = <T as Config>::WeightInfo::add_and_affirm_with_mediators_legs(legs, mediators.len() as u32)]
         pub fn add_and_affirm_with_mediators(
             origin,
-            venue_id: VenueId,
+            venue_id: Option<VenueId>,
             settlement_type: SettlementType<T::BlockNumber>,
             trade_date: Option<T::Moment>,
             value_date: Option<T::Moment>,
@@ -941,7 +941,7 @@ impl<T: Config> Module<T> {
 
     pub fn base_add_instruction(
         did: IdentityId,
-        venue_id: VenueId,
+        venue_id: Option<VenueId>,
         settlement_type: SettlementType<T::BlockNumber>,
         trade_date: Option<T::Moment>,
         value_date: Option<T::Moment>,
@@ -966,7 +966,9 @@ impl<T: Config> Module<T> {
         }
 
         // Ensure venue exists & sender is its creator.
-        Self::venue_for_management(venue_id, did)?;
+        if let Some(venue_id) = venue_id {
+            Self::venue_for_management(venue_id, did)?;
+        }
 
         // Verifies if all legs are valid.
         let mut instruction_info = Self::ensure_valid_legs(&legs, &venue_id)?;
@@ -1020,7 +1022,9 @@ impl<T: Config> Module<T> {
         if let Some(ref memo) = memo {
             InstructionMemos::insert(instruction_id, &memo);
         }
-        VenueInstructions::insert(venue_id, instruction_id, ());
+        if let Some(venue_id) = venue_id {
+            VenueInstructions::insert(venue_id, instruction_id, ());
+        }
 
         Self::deposit_event(RawEvent::InstructionCreated(
             did,
@@ -1066,7 +1070,7 @@ impl<T: Config> Module<T> {
     /// See also: [`Module::ensure_valid_fungible_leg`], [`Module::ensure_valid_nft_leg`] and [`Module::ensure_valid_off_chain_leg`].
     fn ensure_valid_legs(
         legs: &[Leg],
-        venue_id: &VenueId,
+        venue_id: &Option<VenueId>,
     ) -> Result<InstructionInfo, DispatchError> {
         // Tracks the number of fungible, non-fungible and offchain assets across the legs
         let mut instruction_asset_count = AssetCount::default();
@@ -1280,7 +1284,9 @@ impl<T: Config> Module<T> {
             ) {
                 Ok(_) => {
                     // Remove remaning storage
-                    VenueInstructions::remove(instruction_details.venue_id, instruction_id);
+                    if let Some(venue_id) = instruction_details.venue_id {
+                        VenueInstructions::remove(venue_id, instruction_id);
+                    }
                     let _ = InstructionLegStatus::<T>::clear_prefix(
                         instruction_id,
                         instruction_legs.len() as u32,
@@ -1456,7 +1462,9 @@ impl<T: Config> Module<T> {
     /// [`InstructionStatus::Rejected`].
     fn prune_rejected_instruction(instruction_id: InstructionId) {
         let instruction_details = InstructionDetails::<T>::take(&instruction_id);
-        VenueInstructions::remove(instruction_details.venue_id, instruction_id);
+        if let Some(venue_id) = instruction_details.venue_id {
+            VenueInstructions::remove(venue_id, instruction_id);
+        }
         InstructionAffirmsPending::remove(instruction_id);
         let _ = InstructionMediatorsAffirmations::<T>::clear_prefix(
             instruction_id,
@@ -1964,13 +1972,15 @@ impl<T: Config> Module<T> {
     /// in the venue allowed list.
     fn ensure_allowed_venue(
         instruction_legs: &[(LegId, Leg)],
-        venue_id: VenueId,
+        venue_id: Option<VenueId>,
     ) -> DispatchResult {
-        // Avoids reading the storage multiple times for the same asset_id
-        let mut tickers: BTreeSet<AssetID> = BTreeSet::new();
-        for (_, leg) in instruction_legs {
-            if let Some(asset_id) = leg.asset_id() {
-                Self::ensure_venue_filtering(&mut tickers, *asset_id, &venue_id)?;
+        if let Some(_) = venue_id {
+            // Avoids reading the storage multiple times for the same asset_id
+            let mut tickers: BTreeSet<AssetID> = BTreeSet::new();
+            for (_, leg) in instruction_legs {
+                if let Some(asset_id) = leg.asset_id() {
+                    Self::ensure_venue_filtering(&mut tickers, *asset_id, &venue_id)?;
+                }
             }
         }
         Ok(())
@@ -1980,13 +1990,15 @@ impl<T: Config> Module<T> {
     fn ensure_venue_filtering(
         tickers: &mut BTreeSet<AssetID>,
         asset_id: AssetID,
-        venue_id: &VenueId,
+        venue_id: &Option<VenueId>,
     ) -> DispatchResult {
-        if tickers.insert(asset_id) && Self::venue_filtering(asset_id) {
-            ensure!(
-                Self::venue_allow_list(asset_id, venue_id),
-                Error::<T>::UnauthorizedVenue
-            );
+        if let Some(venue_id) = venue_id {
+            if tickers.insert(asset_id) && Self::venue_filtering(asset_id) {
+                ensure!(
+                    Self::venue_allow_list(asset_id, venue_id),
+                    Error::<T>::UnauthorizedVenue
+                );
+            }
         }
         Ok(())
     }
@@ -2007,7 +2019,7 @@ impl<T: Config> Module<T> {
     /// See also: [`Module::ensure_valid_fungible_leg`], [`Module::ensure_valid_nft_leg`] and [`Module::ensure_valid_off_chain_leg`].
     fn ensure_valid_leg(
         leg: &Leg,
-        venue_id: &VenueId,
+        venue_id: &Option<VenueId>,
         tickers: &mut BTreeSet<AssetID>,
         instruction_asset_count: &mut AssetCount,
     ) -> DispatchResult {
@@ -2058,7 +2070,7 @@ impl<T: Config> Module<T> {
         tickers: &mut BTreeSet<AssetID>,
         asset_id: AssetID,
         amount: Balance,
-        venue_id: &VenueId,
+        venue_id: &Option<VenueId>,
     ) -> DispatchResult {
         ensure!(amount > 0, Error::<T>::ZeroAmount);
         ensure!(
@@ -2075,7 +2087,7 @@ impl<T: Config> Module<T> {
     fn ensure_valid_nft_leg(
         tickers: &mut BTreeSet<AssetID>,
         nfts: &NFTs,
-        venue_id: &VenueId,
+        venue_id: &Option<VenueId>,
     ) -> DispatchResult {
         ensure!(
             Self::is_on_chain_asset(nfts.asset_id()),
@@ -2152,12 +2164,22 @@ impl<T: Config> Module<T> {
             }
             None => {
                 // If the caller is not the venue creator, they should be a counter party in an offchain leg
-                if Self::venue_for_management(instruction_details.venue_id, caller_did).is_err() {
-                    ensure!(
-                        Self::is_offchain_party(&instruction_legs, &caller_did),
-                        Error::<T>::Unauthorized
-                    );
-                };
+                match instruction_details.venue_id {
+                    Some(venue_id) => {
+                        if Self::venue_for_management(venue_id, caller_did).is_err() {
+                            ensure!(
+                                Self::is_offchain_party(&instruction_legs, &caller_did),
+                                Error::<T>::Unauthorized
+                            );
+                        };
+                    }
+                    None => {
+                        ensure!(
+                            Self::is_offchain_party(&instruction_legs, &caller_did),
+                            Error::<T>::Unauthorized
+                        );
+                    }
+                }
             }
         }
 
@@ -2219,7 +2241,7 @@ impl<T: Config> Module<T> {
     /// if the receipt has not been used before, if the receipt's `leg_id` and `instruction_id` are referencing the
     /// correct instruction/leg and if its signature is valid.
     fn ensure_valid_receipts_details(
-        venue_id: VenueId,
+        venue_id: Option<VenueId>,
         instruction_id: InstructionId,
         receipts_details: &[ReceiptDetails<T::AccountId, T::OffChainSignature>],
     ) -> DispatchResult {
@@ -2239,10 +2261,14 @@ impl<T: Config> Module<T> {
                 unique_legs.insert(receipt_details.leg_id()),
                 Error::<T>::MultipleReceiptsForOneLeg
             );
-            ensure!(
-                Self::venue_signers(venue_id, receipt_details.signer()),
-                Error::<T>::UnauthorizedSigner
-            );
+
+            if let Some(venue_id) = venue_id {
+                ensure!(
+                    Self::venue_signers(venue_id, receipt_details.signer()),
+                    Error::<T>::UnauthorizedSigner
+                );
+            }
+
             ensure!(
                 !Self::receipts_used(receipt_details.signer(), &receipt_details.uid()),
                 Error::<T>::ReceiptAlreadyClaimed
diff --git a/pallets/settlement/src/migrations.rs b/pallets/settlement/src/migrations.rs
index 6840791d5..4519e5a54 100644
--- a/pallets/settlement/src/migrations.rs
+++ b/pallets/settlement/src/migrations.rs
@@ -36,6 +36,17 @@ mod v2 {
         pub ids: Vec<NFTId>,
     }
 
+    #[derive(Encode, Decode, TypeInfo)]
+    #[derive(Default, Clone, PartialEq, Eq, Debug, PartialOrd, Ord)]
+    pub struct Instruction<Moment, BlockNumber> {
+        pub instruction_id: InstructionId,
+        pub venue_id: VenueId,
+        pub settlement_type: SettlementType<BlockNumber>,
+        pub created_at: Option<Moment>,
+        pub trade_date: Option<Moment>,
+        pub value_date: Option<Moment>,
+    }
+
     decl_storage! {
         trait Store for Module<T: Config> as Settlement {
             // This storage changed the Ticker key to AssetID.
@@ -50,6 +61,9 @@ mod v2 {
             pub(crate) InstructionLegs get(fn instruction_legs):
                 double_map hasher(twox_64_concat) InstructionId, hasher(twox_64_concat) LegId => Option<Leg>;
 
+            pub(crate) InstructionDetails get(fn instruction_details):
+                map hasher(twox_64_concat) InstructionId => Instruction<T::Moment, T::BlockNumber>;
+
         }
     }
 
@@ -95,6 +109,19 @@ impl From<v2::Leg> for Leg {
     }
 }
 
+impl<T, S> From<v2::Instruction<T, S>> for Instruction<T, S> {
+    fn from(v2_instruction: v2::Instruction<T, S>) -> Instruction<T, S> {
+        Instruction {
+            instruction_id: v2_instruction.instruction_id,
+            venue_id: Some(v2_instruction.venue_id),
+            settlement_type: v2_instruction.settlement_type,
+            created_at: v2_instruction.created_at,
+            trade_date: v2_instruction.trade_date,
+            value_date: v2_instruction.value_date,
+        }
+    }
+}
+
 pub(crate) fn migrate_to_v3<T: Config>() {
     RuntimeLogger::init();
     let mut ticker_to_asset_id = BTreeMap::new();
@@ -130,4 +157,12 @@ pub(crate) fn migrate_to_v3<T: Config>() {
         InstructionLegs::insert(instruction_id, leg_id, Leg::from(leg));
     });
     log::info!("{:?} items migrated", count);
+
+    let mut count = 0;
+    log::info!("Updating types for the InstructionDetails storage");
+    v2::InstructionDetails::<T>::drain().for_each(|(id, inst)| {
+        count += 1;
+        InstructionDetails::<T>::insert(id, Instruction::from(inst));
+    });
+    log::info!("{:?} items migrated", count);
 }
diff --git a/pallets/sto/src/lib.rs b/pallets/sto/src/lib.rs
index 2b0b37be2..a8a07c00a 100644
--- a/pallets/sto/src/lib.rs
+++ b/pallets/sto/src/lib.rs
@@ -488,7 +488,7 @@ decl_module! {
 
                 let instruction_id = Settlement::<T>::base_add_instruction(
                     fundraiser.creator,
-                    fundraiser.venue_id,
+                    Some(fundraiser.venue_id),
                     SettlementType::SettleOnAffirmation,
                     None,
                     None,
diff --git a/primitives/src/settlement.rs b/primitives/src/settlement.rs
index d59184e65..4461c9e23 100644
--- a/primitives/src/settlement.rs
+++ b/primitives/src/settlement.rs
@@ -146,7 +146,7 @@ pub struct Instruction<Moment, BlockNumber> {
     /// Unique instruction id. It is an auto incrementing number
     pub instruction_id: InstructionId,
     /// Id of the venue this instruction belongs to
-    pub venue_id: VenueId,
+    pub venue_id: Option<VenueId>,
     /// Type of settlement used for this instruction
     pub settlement_type: SettlementType<BlockNumber>,
     /// Date at which this instruction was created