An account between two broker/dealers that remains intact 30 days after the settlement date. The receiving firm must adjust its capital as it can no longer treat this account as an asset.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A transaction that has not been settled more than 30 days after the trade date. An aged fail is subject to specific fines and other charges from the SEC. Aged fails occur most often between clearing houses and institutions; individual investors rarely commit an aged fail. See also: Fail, Settlement.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A contract between broker-dealers that remains unsettled 30 days after the settlement date. A security that is subject to an aged fail may no longer be counted as an asset by the receiving firm.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.