Where a party to a contract does not make delivery against sale or payment against delivery, the other party can close out the transaction against the defaulting party. The gain or loss arising from the closing out is borne by the defaulter.
You may also like
That part of a broking firm which is responsible for post trade activities. The Back-office can be a single department or multiple […]
They are members of stock exchanges, appointed to facilitate the collection of application forms and bids, also referred to as Syndicate Members. […]
A security is financial instrument that represents some kind of financial value which can be traded.
International Securities Identification Number is a unique identification number allotted for each security in the depository system