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:
“Nature knows nothing but solid bodies; your science deals only with combinations of surfaces. And so nature constantly gives the lie to all your laws; can you name one to which no fact makes an exception?”
—Honoré De Balzac (1799–1850)
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