Series 14: 2.7.4.1. Buy-Ins

Taken from our Series 14 Online Guide

2.7.4.1. Buy-Ins

When a seller does not deliver the securities by T + 2, this is called a fail-to-deliver. A close-out performed by a buyer because of a fail-to-deliver is called a buy-in. The first step is notifying the seller. On the morning of the next business day (T + 3), the buyer sends the seller a written or electronic notice that it

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