https://jollycontrarian.com/index.php?title=Delivery_versus_payment&feed=atom&action=historyDelivery versus payment - Revision history2024-03-29T11:14:22ZRevision history for this page on the wikiMediaWiki 1.39.3https://jollycontrarian.com/index.php?title=Delivery_versus_payment&diff=41535&oldid=prevAmwelladmin at 18:56, 16 March 20202020-03-16T18:56:12Z<p></p>
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<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{g}}[[Delivery versus payment]] or [[DvP]] is a common form of [[principal]] settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other. Title transfers at the moment of exchange.</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{g}}[[Delivery versus payment]] or [[DvP]] is a common form of [[principal]] settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other. Title transfers at the moment of exchange.</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td></tr>
<tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>confusingly, the CASS rules refer to a <del style="font-weight: bold; text-decoration: none;">"</del>[[DVP exemption - CASS Provision|DvP exemption]]<del style="font-weight: bold; text-decoration: none;">" </del>for <del style="font-weight: bold; text-decoration: none;">a </del>transaction which, as between the client and the broker, <del style="font-weight: bold; text-decoration: none;">is </del>''not'' <del style="font-weight: bold; text-decoration: none;">itself a </del>DVP <del style="font-weight: bold; text-decoration: none;">transaction</del>, but rather <del style="font-weight: bold; text-decoration: none;">an </del>agency <del style="font-weight: bold; text-decoration: none;">arrangement </del>where the broker has agreed to sell into (or buy from) the market, assets that it holds (or will receive) on the client’s behalf, without first becoming the owner of those assets itself. This is, in fact, a very rare circumstance, and it is known to confuse the hell out of compliance officers who assume (naturally) that it applies to [[DVP]] trades between client and broker — being the vast majority of all brokerage transactions.</div></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>confusingly, the CASS rules refer to a <ins style="font-weight: bold; text-decoration: none;">“</ins>[[DVP exemption - CASS Provision|DvP exemption]]<ins style="font-weight: bold; text-decoration: none;">” from their applicability </ins>for <ins style="font-weight: bold; text-decoration: none;">certasin </ins>transaction which, as between the client and the broker, <ins style="font-weight: bold; text-decoration: none;">are </ins>''not'' <ins style="font-weight: bold; text-decoration: none;">themselves </ins>DVP <ins style="font-weight: bold; text-decoration: none;">transactions at all</ins>, but rather agency <ins style="font-weight: bold; text-decoration: none;">arrangements </ins>where the broker has agreed to sell into (or buy from) the market, assets that it holds (or will receive) on the client’s behalf, without first becoming the owner of those assets itself. This is, in fact, a very rare circumstance, and it is known to confuse the hell out of compliance officers who assume (naturally) that it applies to [[DVP]] trades between client and broker — being the vast majority of all brokerage transactions <ins style="font-weight: bold; text-decoration: none;">— when in fact it doesn’t</ins>.</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{sa}}</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{sa}}</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*[[Free of payment]]</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*[[Free of payment]]</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*{{cassprov|DVP exemption}} from client assets and client money rules</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*{{cassprov|DVP exemption}} from client assets and client money rules</div></td></tr>
</table>Amwelladminhttps://jollycontrarian.com/index.php?title=Delivery_versus_payment&diff=41534&oldid=prevAmwelladmin at 18:54, 16 March 20202020-03-16T18:54:19Z<p></p>
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<td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 18:54, 16 March 2020</td>
</tr><tr><td colspan="2" class="diff-lineno" id="mw-diff-left-l1">Line 1:</td>
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<tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>{{g}}[[Delivery versus payment]] or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>{{g}}[[Delivery versus payment]] or [[DvP]] is a common form of <ins style="font-weight: bold; text-decoration: none;">[[principal]] </ins>settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other<ins style="font-weight: bold; text-decoration: none;">. Title transfers at the moment of exchange.</ins></div></td></tr>
<tr><td colspan="2" class="diff-side-deleted"></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div> </div></td></tr>
<tr><td colspan="2" class="diff-side-deleted"></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">confusingly, the CASS rules refer to a "[[DVP exemption - CASS Provision|DvP exemption]]" for a transaction which, as between the client and the broker, is ''not'' itself a DVP transaction, but rather an agency arrangement where the broker has agreed to sell into (or buy from) the market, assets that it holds (or will receive) on the client’s behalf, without first becoming the owner of those assets itself. This is, in fact, a very rare circumstance, and it is known to confuse the hell out of compliance officers who assume (naturally) that it applies to [[DVP]] trades between client and broker — being the vast majority of all brokerage transactions</ins>.</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{sa}}</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{sa}}</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*[[Free of payment]]</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*[[Free of payment]]</div></td></tr>
<tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>*{{<del style="font-weight: bold; text-decoration: none;">cobsprov</del>|DVP exemption}} from client assets and client money rules</div></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>*{{<ins style="font-weight: bold; text-decoration: none;">cassprov</ins>|DVP exemption}} from client assets and client money rules</div></td></tr>
</table>Amwelladminhttps://jollycontrarian.com/index.php?title=Delivery_versus_payment&diff=39957&oldid=prevAmwelladmin at 17:30, 12 February 20202020-02-12T17:30:14Z<p></p>
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<td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 17:30, 12 February 2020</td>
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<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{g}}[[Delivery versus payment]] or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{g}}[[Delivery versus payment]] or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{sa}}</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{sa}}</div></td></tr>
<tr><td colspan="2" class="diff-side-deleted"></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">*[[Free of payment]]</ins></div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*{{cobsprov|DVP exemption}} from client assets and client money rules</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*{{cobsprov|DVP exemption}} from client assets and client money rules</div></td></tr>
</table>Amwelladminhttps://jollycontrarian.com/index.php?title=Delivery_versus_payment&diff=37822&oldid=prevAmwelladmin at 11:36, 18 January 20202020-01-18T11:36:30Z<p></p>
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<td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 11:36, 18 January 2020</td>
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<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{g}}[[Delivery versus payment]] or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{g}}[[Delivery versus payment]] or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div></td></tr>
<tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>{{<del style="font-weight: bold; text-decoration: none;">seealso</del>}}</div></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>{{<ins style="font-weight: bold; text-decoration: none;">sa</ins>}}</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*{{cobsprov|DVP exemption}} from client assets and client money rules</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*{{cobsprov|DVP exemption}} from client assets and client money rules</div></td></tr>
</table>Amwelladminhttps://jollycontrarian.com/index.php?title=Delivery_versus_payment&diff=31939&oldid=prevAmwelladmin at 12:09, 19 July 20192019-07-19T12:09:46Z<p></p>
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<td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 12:09, 19 July 2019</td>
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<tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>[[Delivery versus payment]] or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">{{g}}</ins>[[Delivery versus payment]] or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{seealso}}</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{seealso}}</div></td></tr>
<tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*{{cobsprov|DVP exemption}} from client assets and client money rules</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>*{{cobsprov|DVP exemption}} from client assets and client money rules</div></td></tr>
</table>Amwelladminhttps://jollycontrarian.com/index.php?title=Delivery_versus_payment&diff=24751&oldid=prevAmwelladmin at 12:59, 29 August 20182018-08-29T12:59:19Z<p></p>
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<td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 12:59, 29 August 2018</td>
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<tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Delivery versus payment or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">[[</ins>Delivery versus payment<ins style="font-weight: bold; text-decoration: none;">]] </ins>or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div></td></tr>
<tr><td colspan="2" class="diff-side-deleted"></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">{{seealso}}</ins></div></td></tr>
<tr><td colspan="2" class="diff-side-deleted"></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">*{{cobsprov|DVP exemption}} from client assets and client money rules</ins></div></td></tr>
</table>Amwelladminhttps://jollycontrarian.com/index.php?title=Delivery_versus_payment&diff=11157&oldid=prevAmwelladmin: Created page with "Delivery versus payment or DvP is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents ne..."2016-07-20T10:52:35Z<p>Created page with "Delivery versus payment or <a href="/index.php?title=DvP" class="mw-redirect" title="DvP">DvP</a> is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents ne..."</p>
<p><b>New page</b></p><div>Delivery versus payment or [[DvP]] is a common form of settlement for {{tag|securities}}. The process involves the simultaneous exchange of the securities (or the documents necessary to transfer them) with the agreed cash consideration. If either side fails, the other side does not happen, so the parties have only limited market exposure to each other.</div>Amwelladmin