The work of the Stock Exchange

Bibliographic data

Monograph

Identifikator:: 1831284952

URN:: urn:nbn:de:zbw-retromon-225876

Document type:: Monograph

Author:: Meeker, James Edward http://d-nb.info/gnd/126597340

Title:: The work of the Stock Exchange

Edition:: Revised edition

Place of publication:: New York

Publisher:: The Ronald Press Company

Year of publication:: [1930]

Scope:: XVI, 720 Seiten; Illustrationen, Diagramme

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XII. Comparison and security clearance

Collection:: Economics Books

COMPARISON AND SECURITY CLEARANCE 329 the clearing number of the firm whose transactions the sheet records is placed. As we shall presently see, firms are known by these numbers rather than by their names in the Stock Clearing Corporation. In the upper left-hand corner the letters “EX” and “CK” will be noticed. These are abbreviations of “Examined” and “Checked,” and refer to operations in the process of clearance which will presently be explained. The sheet is divided down its center into two parts. On the left-hand side are recorded the stocks which Jenkins & Co. has bought and will receive when the clearance is finished, together with the name, number, and price of the stocks, and their cash extensions, or the amount of money they represent. The right-hand side of the sheet contains a similar record of the stocks which Jenkins & Co. sold during the day and must deliver before the clearance is completed. Prominent among these selling transactions will be found the 100 shares of Steel sold to Wilkins. In addition, loaned stock is included as stock to deliver, and borrowed stock as stock to receive, in the same manner as sold or purchased stock respectively. Stock Balances “To Receive” and “To Deliver.”—The clerk who prepares this clearance sheet next ascertains the balances of clearing house stocks which his firm has to receive and deliver. Jenkins & Co. has during this particular day bought 1,000 shares of Reading, 500 of Steel, and 600 of Rubber; and has sold 80 shares of Reading, 800 of Steel, and 600 of Rubber. In the case of Rubber there is no balance, since the firm has sold the same amount as it has bought. But it has sold 300 shares more Steel than it has bought, and has bought 200 shares more Reading than it has sold. Conse- quently, it has a balance of 300 Steel to deliver and of 200 Reading to receive. In order to strike a balance on the clear- ance sheet, the balances to deliver used to be entered under the stocks to receive, and the balances to receive under the stocks to deliver. The accuracy of this much of the record could

Access restriction

Copyright

fullscreen: The work of the Stock Exchange

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation