Terminus [ Lieferung-gegen-Zahlung-System ]

Definition 1
Verfahren in einem Wertpapierabrechnungssystem, das sicherstellt, daß die endgültige Übertragung eines Vermögenswertes ausschließlich dann erfolgt, wenn im Gegenzug die endgültige Übertragung des anderen Vermögenswertes bzw. der anderen Vermögenswerte zustande kommt. Vermögenswerte können Wertpapiere oder andere Finanztitel sein.
EZBjb98-164

Definition 1
a mechanism in a securities settlement system that ensures that the final transfer of one asset occurs if, and only if, the final transfer of (an)other asset(s) occurs. Assets could include securities or other financial instruments.
ECBar98-153

Definition 2
Securities industry procedure whereby the sold securities are delivered to the buyer's bank in exchange for payment. From the seller's perspective, it is called "receive versus payment." Institutional customers customarily use delivery versus payment to make settlement on transactions. It is also referred to as COD (cash on delivery) transactions.
oneinvestGL

Definition 1
delivery against payment
bluebook

Definition 2
delivery versus payment
bluebook

Definition 1
a link between a securities transfer system and a funds transfer system that ensures that delivery occurs if, and only if, payment occurs.
BISpaymentsGL