Close
Close is a financial term that refers to the completion of a transaction. It is the final step in the process of buying or selling a security, such as a stock, bond, or mutual fund. The close is the point at which the buyer and seller agree to the terms of the transaction and the money is exchanged. The close is also known as the settlement date, as it is the date on which the transaction is settled and the funds are transferred.
History of Close
The concept of close has been around since the early days of trading. In the past, traders would meet in person to negotiate the terms of a transaction and then exchange money and securities. Today, most transactions are done electronically, but the concept of close remains the same. The close is the point at which the buyer and seller agree to the terms of the transaction and the money is exchanged.
Comparison Table
| Transaction Type | Close Date |
|---|---|
| Stock | 3 business days |
| Bond | 7 business days |
| Mutual Fund | 1 business day |
Summary
Close is a financial term that refers to the completion of a transaction. It is the final step in the process of buying or selling a security, such as a stock, bond, or mutual fund. The close is the point at which the buyer and seller agree to the terms of the transaction and the money is exchanged. The close is also known as the settlement date, as it is the date on which the transaction is settled and the funds are transferred. For more information about close, you can visit websites such as Investopedia, The Balance, and Yahoo Finance.
See Also
- Settlement Date
- Transaction
- Security
- Stock
- Bond
- Mutual Fund
- Buyer
- Seller
- Exchange
- Funds
