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 of, nature and/or settlement:
“Religion. A daughter of Hope and Fear, explaining to Ignorance the nature of the Unknowable.”
—Ambrose Bierce (1842–1914)
“Making a logging-road in the Maine woods is called “swamping” it, and they who do the work are called “swampers.” I now perceived the fitness of the term. This was the most perfectly swamped of all the roads I ever saw. Nature must have coöperated with art here.”
—Henry David Thoreau (1817–1862)
“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)