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 XIII. Security delivieries, loans, and transfers

Collection:: Economics Books

348 THE WORK OF THE STOCK EXCHANGE ticket,” which later served to credit the account of the deliver- ing firm, and debit the account of the receiving firm, in the Day Branch of the Stock Clearing Corporation. As deliveries of all stocks and of cleared bonds are now made through the new Central Delivery Department, “delivery tickets,” as described below, are today employed only for non-cleared bonds, and their use has consequently shrunk to only minor importance. The Delivery Tickets.—Since the Stock Clearing Corpo- ration is merely the agent of its members in effecting settle- ments of their accounts with each other, it obtains specific orders from them for every item which is credited or charged to their money-accounts at the Day Branch.” In the case of security deliveries which have been made direct between brokers’ offices rather than through the Central Delivery De- partment, such orders are given to the Stock Clearing Cor- poration by means of the “delivery tickets”; also, as we shall presently see, the “delivery tickets” establish the fact that delivery of the securities has been made—an essential matter, since no Exchange member will want to pay for securities until he has received them. The “delivery ticket” is of buff paper and is divided into mainly similar parts—a “credit ticket” (Figure 33) printed in red, and folding under # a “charge ticket” (Figure 34) printed in black; each part is provided with a detachable stub. At this writing all cleared securities are handled through the Central Delivery Department and hence the “delivery tickets” are not used for them, and only with non-cleared securities which are still delivered direct between offices. The “delivery ticket” identifies the security to be delivered by name, amount, price, and value, and also specifies the names of the delivering and receiving firms. The deliverer of securities makes out both the “credit” and “charge” tickets at once (except, of course, for the signature of the receiving member) by placing TT 2 See Chapter XIV. p. 401.

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