Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 2 terms
The deadline by which securities or funds owed on a trade must reach the clearing corporation.
The moment an obligation stops being a number on a contract note. Shares not there by then are a shortage, whatever the holding statement shows.
A seller’s failure to deliver shares to the clearing corporation by the securities pay-in deadline.
The one settlement failure an ordinary investor can personally cause. The buyer is never left waiting — the clearing corporation buys the shares in and sends the seller the bill.