Post by fastwalker on Nov 21, 2004 14:18:13 GMT -5
What happens with "Failed Delivery" of stock..
"It is important to note that the DTCC not only facilitates but also guarantees delivery. If one party fails to deliver the securities or cash to the other, the DTCC will step in and fulfill the obligations of the failing party.
Brokers are required to inform you as to whether a filled trade was an agency or principal transaction; you are usually notified in your trade confirmation sent in the mail (or electronically). Although you cannot specify to your broker how you want the trade to be filled, as a client you have the right to know how your transaction was completed."
www.investopedia.com/articles/03/012403.asp
"It is important to note that the DTCC not only facilitates but also guarantees delivery. If one party fails to deliver the securities or cash to the other, the DTCC will step in and fulfill the obligations of the failing party.
Brokers are required to inform you as to whether a filled trade was an agency or principal transaction; you are usually notified in your trade confirmation sent in the mail (or electronically). Although you cannot specify to your broker how you want the trade to be filled, as a client you have the right to know how your transaction was completed."
www.investopedia.com/articles/03/012403.asp
