Transactions on the ASX Are Settled Exactly Three Days After

question 21

True/False

Transactions on the ASX are settled exactly three days after the order has been executed.

---

Definitions:

Maker

One who promises to pay a certain sum to the holder of a promissory note or certificate of deposit (CD).

Drawer

In banking and finance, the person who writes or issues a cheque, telling the bank to pay the specified amount from their account.

Promissory Note

A written promise made by one person (the maker) to pay a fixed sum of money to another person (the payee or a subsequent holder) on demand or on a specified date.

Specific Payee

The designated individual or entity to whom a particular payment is directed or made.