Nature of Settlement
Settlement involves the delivery of securities from one party to another. Delivery usually takes place against payment, but some deliveries are made without a corresponding payment (sometimes referred to as a free delivery). Examples of a delivery without payment are the delivery of securities collateral against a loan of securities, and a delivery made pursuant to a margin call.
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Famous quotes containing the words nature and/or settlement:
“One of the most significant effects of age-segregation in our society has been the isolation of children from the world of work. Whereas in the past children not only saw what their parents did for a living but even shared substantially in the task, many children nowadays have only a vague notion of the nature of the parent’s job, and have had little or no opportunity to observe the parent, or for that matter any other adult, when he is fully engaged in his work.”
—Urie Bronfenbrenner (b. 1917)
“A Tory..., since the revolution, may be defined in a few words, to be a lover of monarchy, though without abandoning liberty; and a partizan of the family of Stuart. As a Whig may be defined to be a lover of liberty though without renouncing monarchy; and a friend to the settlement in the protestant line.”
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