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Settlement of repurchase leg: Upon termination of the repo, securities collateral is returned to the cash borrower and cash, including interest, is returned to the cash lender.

Repo Confirmation means the form of confirmation described as such and dated the Issue Date between the Issuer and the Repo Counterparty, as amended and/or supplemented from time to time.

Repurchase agreements are financial transactions that involve the sale of a security and the subsequent repurchase of the same security. Hence the name ?repurchase agreement? (or repo, for short). Repos are typically short-term transactions?usually overnight?but they can extend out as far as two years.

The repo market allows financial institutions that own lots of securities (e.g. banks, broker-dealers, hedge funds) to borrow cheaply and allows parties with lots of spare cash (e.g. money market mutual funds) to earn a small return on that cash without much risk, because securities, often U.S. Treasury securities, ...

Settlement at DTC occurs business day at approximately p.m. eastern standard time. This is when the cash is moved through the Federal Reserve Bank of New York on behalf of all of the transactions that were processed and completed that day.

The clearing function of the clearing corporation is designed to work out a) what members are due to deliver and b) what members are due to receive on the settlement date. Settlement is a two way process which involves transfer of funds and securities on the settlement date.

Settlement activity code. Settlement code that represents a type of money/security activity. For example, 26 is a Deliver Order, 78 is a Payment Order.