Chapter 50
Securities Settlement Systems
Outline
The Legal Requirements for Transferring Securities
The Creation of the Contemporary Depository Model
The Legal Characteristics of Settlement in the Currently Dominant, Depository Model
Disadvantages of the Depository Model
Ameliorating the Disadvantages of the Depository Model
Definition
Securities settlement is the process of transferring to the buyer ownership of the security bought and to the seller ownership of the purchase price. On an organized securities market, trades occur through the matching of orders on an order book, ...
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