Series 51: Good Delivery

Good Delivery

Delivery of the security is one of the final steps in a transaction. Good delivery means that a security is in proper contractual and regulatory readiness for the transfer of the title. Delivery is accomplished in different ways for different securities. Often securities are delivered in standardized monetary denominations or units, which vary depending on the security. For example, bearer bonds must be delivered in denominations of $1,000 or $5,000 par value.

Delivery for many securities is accomplished electronically. Settled transactions are forwarded to a registered securities depository. This would be the DTC, a custodian for the securities of its participating members. The DTC is an e