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:
“O, reason not the need! Our basest beggars
Are in the poorest thing superfluous.
Allow not nature more than nature needs,
Man’s life is cheap as beast’s. Thou art a lady;
If only to go warm were gorgeous,
Why, nature needs not what thou gorgeous wear’st,
Which scarcely keeps thee warm. But, for true need—
You heavens, give me that patience, patience I need!”
—William Shakespeare (1564–1616)
“A Settlement is above all a place for enthusiasms, a spot to which those who have a passion for the equalization of human joys and opportunities are early attracted.”
—Jane Addams (1860–1935)