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:
“For WAR, consisteth not in Battle only, or the act of fighting; but in a tract of time, wherein the Will to content by Battle is sufficiently known.... So the nature of War, consisteth not in actual fighting; but in the known disposition thereto, during all the time there is no assurance to the contrary. All other time is PEACE.”
—Thomas Hobbes (1579–1688)
“For WAR, consisteth not in Battle only, or the act of fighting; but in a tract of time, wherein the Will to content by Battle is sufficiently known.... So the nature of War, consisteth not in actual fighting; but in the known disposition thereto, during all the time there is no assurance to the contrary. All other time is PEACE.”
—Thomas Hobbes (1579–1688)
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