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Skip-Day Settlement
(redirected from Skip Day)

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Skip-day settlement
Settling a trade one business day beyond what is normal.

Skip-Day Settlement
On an exchange, the practice of settling a transaction one day after the normal time period in which it is settled. For example, if a trade is usually settled five business days after the transaction, skip-day settlement requires the trade to settle six days after the original transaction. See also: delayed settlement.

skip-day settlement
The settlement of a security trade one business day beyond the usual settlement date. For example, a trade that usually requires next-day settlement would require payment and delivery two business days following the trade date using skip-day settlement.


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In addition to traditions such as senior skip day and prank week, the class of 2010 added "senior scoot day," when seniors wore rollerblades or brought scooters to school.
It's the time of year when some high school seniors can't resist the temptation of certain time-honored - yet officially frowned-upon - traditions: Senior Skip Day, alcohol-fueled parties and, of course, parting pranks.
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