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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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.
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.