skip-day settlement(redirected from Skip-Day)
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.
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.