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:
“Consider first the nature of the business in hand; then examine thy own nature, whether thou hast strength to undertake it.”
—Epictetus (c. 50–120)
“From cradle to grave this problem of running order through chaos, direction through space, discipline through freedom, unity through multiplicity, has always been, and must always be, the task of education, as it is the moral of religion, philosophy, science, art, politics and economy; but a boy’s will is his life, and he dies when it is broken, as the colt dies in harness, taking a new nature in becoming tame.”
—Henry Brooks Adams (1838–1918)
“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)