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Fail

A deal is said to fail if on the settlement date either the seller does not deliver securities in proper form or the buyer does not to deliver funds in proper form.

Fail

fail

Of or relating to a trade in which the seller does not deliver securities or the buyer does not deliver funds in the prescribed manner at the prescribed time, usually on the settlement date. Compare clear.
References in periodicals archive ?
April 8, 2010: Three offences failing to ensure a child attends school.
Stuart Grundy, aged 32, of Woodway Lane, Woodway Park, Coventry, driving without a test certificate, failing to produce a test certificate, fined pounds 75.
Thus, the way the law works, states with high standards will soon have to deal with huge numbers of failing schools, while states with low standards will have fewer such schools to deal with and thus will appear to be doing a far better job, when in fact the contrary is true.
Eryk Eugeniusz Pelka, aged 25, of Monks Road, Stoke, Coventry, driving with an incorrect licence, failing to produce a licence, using a vehicle without insurance, failing to produce a certificate of insurance, using a vehicle without a test certificate, failing to produce a test certificate, carrying an insecure load, fined pounds 490.
Initially, the district claimed to "lack capacity" to provide such choices to students attending failing schools, which would have exempted it from the requirement under the old law.
By offering vouchers to students at failing schools, the Florida plan is intended to motivate those schools to improve their academic performance.
Phillip Roy Barnes, aged 37, of Dronfield Road, Stoke, Coventry, driving with an incorrect licence, failing to produce a licence, using a vehicle without insurance, failing to produce a certificate of insurance, using a vehicle without a test certificate, failing to produce a test certificate, fined pounds 350.
Penalty for failing to maintain investor lists: The AJCA modifies the penalty for failing to maintain an investor list, by making it time sensitive.
Even though I knew my predecessor's fate, I gave some failing grades for the first grading period.
Dineh Bagiarban, aged 19, of Repton Drive, Hall Green, Coventry, driving with an incorrect licence, failing to produce a licence, using a vehicle without insurance, failing to produce a certificate of insurance, using a vehicle without a test certificate and failing to produce a test certificate, fined pounds 400.
It's been a problem area for quite some time, but the slide's been inactive,'' Failing said.