Delivery versus payment: 1) The simultaneous exchange of securities for cash in completing a trade. 2) A process which ensures that delivery occurs if, and only if, payment occurs. To be true DVP, there must be an element of finality in the process, whereby neither side of the trade can unwind the transaction after settlement.
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Delivery versus payment in our glossary: terms and definitions
Delivery versus payment in our glossary: terms and definitions
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