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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

prompt receipt and delivery of securities  

Definition 1.

The customer's obligation to deliver securities that have been sold by the broker/dealer in a specified period of time. If the customer has sold short, he must deliver the securities, or make arrangements to borrow the securities from the broker/dealer for delivery by the settlement date. (See settlement, settlement date, short sale)
 
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