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Settlement (finance)

Index Settlement (finance)

Settlement of securities is a business process whereby securities or interests in securities are delivered, usually against (in simultaneous exchange for) payment of money, to fulfill contractual obligations, such as those arising under securities trades. [1]

40 relations: Big Bang (financial markets), Business process, Central securities depository, Clearing (finance), Clearstream, CLS Group, Contract, CREST (securities depository), Debits and credits, Delivery versus payment, Dematerialization (securities), Depository Trust & Clearing Corporation, Depository Trust Company, Direct holding system, Electronic funds transfer, Eurobond, Euroclear, Failure to deliver, Federal Reserve System, Fedwire, Government debt, Group of Thirty, Indirect holding system, Luxembourg, Novation, Payment, Personal rights, Right to property, Securities market participants (United States), Security (finance), Set-off (law), Settlement date, Settlement risk, Stock, Stock transfer agent, Subprime mortgage crisis, T+2, T2S, United Kingdom, Wire transfer.

Big Bang (financial markets)

The phrase Big Bang, used in reference to the sudden deregulation of financial markets, was coined to describe measures, including abolition of fixed commission charges and of the distinction between stockjobbers and stockbrokers on the London Stock Exchange and change from open-outcry to electronic, screen-based trading, effected by Margaret Thatcher in 1986.

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Business process

A business process or business method is a collection of related, structured activities or tasks that in a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers.

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Central securities depository

A central securities depository (CSD) is a specialist financial organization holding securities such as shares either in certificated or uncertificated (dematerialized) form so that ownership can be easily transferred through a book entry rather than the transfer of physical certificates.

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Clearing (finance)

In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled.

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Clearstream is a post-trade services provider owned by Deutsche Börse AG.

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CLS Group

CLS (originally Continuous Linked Settlement) is a specialist US financial institution that provides settlement services to its members in the foreign exchange market (FX).

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A contract is a promise or set of promises that are legally enforceable and, if violated, allow the injured party access to legal remedies.

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CREST (securities depository)

CREST is a UK-based central securities depository that holds UK equities and UK gilts, as well as Irish equities and other international securities.

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Debits and credits

In double entry bookkeeping, debits and credits (abbreviated Dr and Cr, respectively) are entries made in account ledgers to record changes in value resulting from business transactions.

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Delivery versus payment

Delivery versus payment or DvP is a common form of settlement for securities.

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Dematerialization (securities)

In finance and financial law, dematerialization refers to the substitution of paper-form securities by book-entry securities.

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Depository Trust & Clearing Corporation

The Depository Trust & Clearing Corporation (DTCC) is an American post-trade financial services company providing clearing and settlement services to the financial markets.

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Depository Trust Company

Depository Trust Company (DTC) is a New York corporation known as a trust company which performs the functions of a Central Securities Depository as part of the US National Market System.

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Direct holding system

The direct holding system is a traditional system of securities clearance, settlement and ownership in which owners of securities had a direct relationship with the issuer.

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Electronic funds transfer

Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff.

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A eurobond is an international bond that is denominated in a currency not native to the country where it is issued.

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Euroclear is a Belgium-based financial services company that specializes in the settlement of securities transactions as well as the safekeeping and asset servicing of these securities.

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Failure to deliver

In finance, a failure to deliver (plural fails-to-deliver) is the inability of a party to deliver a tradable asset, or meet a contractual obligation.

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Federal Reserve System

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.

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Fedwire (formerly known as the Federal Reserve Wire Network) is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009).

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Government debt

Government debt (also known as public interest, public debt, national debt and sovereign debt) is the debt owed by a government.

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Group of Thirty

The Group of Thirty, often abbreviated to G30, is an international body of leading financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors related to these issues.

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Indirect holding system

The indirect holding system (also multi-tiered holding system) is a system of securities clearance, settlement and ownership system where ownership information is held electronically as a book entry.

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Luxembourg (Lëtzebuerg; Luxembourg, Luxemburg), officially the Grand Duchy of Luxembourg, is a landlocked country in western Europe.

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Novation, in contract law and business law, is the act of.

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A payment is the trade of value from one party (such as a person or company) to another for goods, or services, or to fulfill a legal obligation.

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Personal rights

Personal rights are the rights that a person has over their own body.

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Right to property

The right to property or right to own property (cf. ownership) is often classified as a human right for natural persons regarding their possessions.

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Securities market participants (United States)

Securities market participants in the United States include corporations and governments issuing securities, persons and corporations buying and selling a security, the broker-dealers and exchanges which facilitate such trading, banks which safe keep assets, and regulators who monitor the markets' activities.

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Security (finance)

A security is a tradable financial asset.

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Set-off (law)

In law, set-off or netting are legal techniques applied between persons with mutual rights and liabilities, replacing gross positions with net positions.

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Settlement date

Settlement Date is a securities industry term describing the date on which a trade (bonds, equities, foreign exchange, commodities, etc.) settles.

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Settlement risk

Settlement risk is the risk that a counterparty (or intermediary agent) fails to deliver a security or its value in cash as per agreement when the security was traded after the other counterparty or counterparties have already delivered security or cash value as per the trade agreement.

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The stock (also capital stock) of a corporation is constituted of the equity stock of its owners.

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Stock transfer agent

A stock transfer agent or share registry or Transfer Agency is a company, usually a third party unrelated to stock transactions, which cancels the name and certificate of the shareholder who sold the shares of stock, and substitutes the new owner's name on the official master shareholder listing.

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Subprime mortgage crisis

The United States subprime mortgage crisis was a nationwide banking emergency, occurring between 2007 and 2010, that contributed to the U.S. recession of December 2007 – June 2009.

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In financial markets T+2 is a shorthand for trade date plus two days indicating when securities transactions must be settled.

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T2S (TARGET2-Securities) is a new European securities settlement engine which aims to offer centralised delivery-versus-payment (DvP) settlement in central bank funds across all European securities markets.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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Wire transfer

Wire transfer, bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another.

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[1] https://en.wikipedia.org/wiki/Settlement_(finance)

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