fail to deliver(redirected from Open Fails)
Fail to Deliver
A situation in which a buyer, or, more commonly, his/her broker does not receive delivery of the securities he/she bought by the settlement date. A fail to deliver occurs because of the negligence or deliberate withholding on the part of the seller. If a buyer does not receive the securities, he/she is not obligated to make payment until delivery is made. See also: Aged fail.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
fail to deliver
Used to refer to the nondelivery of securities from a selling broker to a buying broker by the settlement date.
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.