Types of Transactions
Similarly there are certain types of transactions, which are allowed on the stock exchanges. They are:
Transactions for Spot
The delivery and payment is effected within the time or on the date stipulated when entering into the transaction or within fourteen days, whichever is shorter.
Transaction for Hand delivery
These transactions also referred to as the transaction for "the account", are cleared and settled through the clearing house.
Transactions for special delivery
The delivery and payment is effected within any time exceeding fourteen days following the date of the contact as may be stipulated when entering into the transaction, provided the same is permitted by the governing board or the president of the exchange.