
Settlement The fulfilment of the contractual commitments of
transacted business.
Settlement Date The date on which a trade is cleared by delivery of
securities against funds (actual settlement date, con-
tractual settlement date).
Share Futures Based on individual shares. Delivery is fulfilled by
the payment or receipt of cash against the exchange-
calculated delivery settlement price. Also called stock
futures and universal stock futures.
Share Option A right sold to an investor conferring the option to
buy or sell shares of a particular company at a pre-
determined price and within a specified time limit.
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