classic payment method

classic payment method
With this method, a coupon security is distributed at account level on the Single Platform, generally (but not always) on the payment date of the cash distribution. The distribution is based on each holder's position on the record date. Thereafter, coupons can be transferred between clients, primarily for market claim purposes, and can be presented to the paying agent in exchange for cash.

Euroclear glossary. 2008.

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