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:
“No man is quite sane; each has a vein of folly in his composition, a slight determination of blood to the head, to make sure of holding him hard to some one point which nature has taken to heart.”
—Ralph Waldo Emerson (1803–1882)
“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.”
—David Hume (1711–1776)