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:
“So each man, like each plant, has his parasites. A strong, astringent, bilious nature has more truculent enemies than the slugs and moths that fret my leaves. Such a one has curculios, borers, knife-worms; a swindler ate him first, then a client, then a quack, then smooth, plausible gentlemen, bitter and selfish as Moloch.”
—Ralph Waldo Emerson (1803–1882)
“The Puritans, to keep the remembrance of their unity one with another, and of their peaceful compact with the Indians, named their forest settlement CONCORD.”
—Ralph Waldo Emerson (1803–1882)