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:
“Psychologists have set about describing the true nature of women with a certainty and a sense of their own infallibility rarely found in the secular world.”
—Naomi Weisstein, U.S. psychologist, feminist, and author. Psychology Constructs the Female (1969)
“Most books belong to the house and street only, and in the fields their leaves feel very thin. They are bare and obvious, and have no halo nor haze about them. Nature lies far and fair behind them all. But this, as it proceeds from, so it addresses, what is deepest and most abiding in man. It belongs to the noontide of the day, the midsummer of the year, and after the snows have melted, and the waters evaporated in the spring, still its truth speaks freshly to our experience.”
—Henry David Thoreau (1817–1862)
“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)