Settlement of the Transaction: Refers to the finalization of a trade, where the buyer pays for the securities, and the seller delivers them. For most securities, regular-way settlement occurs T+2 (trade date plus two business days).
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Clearing the Trade: Refers to matching trade details to prepare for settlement.
DVP Transactions: A specific type of settlement involving simultaneous payment and delivery, often used for institutional clients.
Corporate Action: Refers to events like stock splits or dividend declarations.
FINRA and SEC Guidelines on Settlement: SEC Settlement Process.
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