Delivery versus Payment. Securities industry procedure whereby delivery of securities sold is made to the buying customer's bank in exchange for payment, usually in the form of cash.
DELIVERY VERSUS PAYMENT. There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities.
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Delivery versus Payment. This is the ideal method of settlement whereby cash and securities are switched simultaneously between client accounts, reducing settlement risk.
Delivery versus payment, or the simultaneous delivery of securities against the payment of funds.
Delivery versus payment: a link between a securities transfer system and a funds transfer system that ensures that delivery occurs if, and only if, payment occurs.
Delivery Versus Payment. The simultaneous exchange of securities (delivery) and cash value (payment) to settle a transaction.
DELIVERY VERSUS PAYMENT. See: COD Transactions.
Delivery Versus Payment. Settlement of security transactions used by institutional customers. Certificates are delivered to a bank designated by the customer whereupon the bank makes payment on delivery.
DELIVERY VERSUS PAYMENT. A type of securities transaction in which the purchaser pays for the securities when they are delivered either to the purchaser or his/her custodian.
Delivery versus payment. An industry standard control ensuring the owner is always in possession of either the security or the proceeds of the transaction. With DVP, payment for the security occurs simultaneous with the delivery of the security.
Delivery Versus Payment. Securities industry procedure whereby the sold securities are delivered to the buyer's bank in exchange for payment. From the seller's perspective, it is called "receive versus payment." Institutional customers customarily use delivery versus payment to make settlement on transactions. It is also referred to as COD (cash on delivery) transactions.