A securities transaction that the buyer and seller settle directly, without recourse to a clearing house.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A securities transaction that is directly settled by the buying and selling firms.
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.