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LSDefine

Simple English definitions for legal terms

fail position

Read a random definition: equitable assignment

A quick definition of fail position:

Fail position: When brokers trade securities with each other, they need to make sure they have enough securities to fulfill their obligations. A fail position happens when a broker owes more securities to another broker than it has coming in from other firms. This can cause problems and delays in settling trades.

A more thorough explanation:

A fail position occurs when a broker owes more securities to another broker than it has received from other firms, after all transactions in a security have been settled.

Broker A buys 100 shares of XYZ stock from Broker B, but Broker B fails to deliver the shares. This creates a fail position for Broker A, as it has paid for the shares but has not received them.

Another example could be if Broker C sells 200 shares of ABC stock to Broker D, but fails to deliver the shares. This creates a fail position for Broker D, as it has paid for the shares but has not received them.

These examples illustrate how a fail position can occur when one broker fails to deliver the securities that were bought by another broker. This can cause problems in the settlement process and may result in financial losses for the affected parties.

failing-company doctrine | failure

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HopefullyInLawSchool
13:02
@BeFree03:
13:04
yeah thats all i am seeing as well. i have literally looked everywhere trying to find at least a time of day for decisions but theres nothing
CuriousPanda2362
13:04
I feel like it’s the calm before the storm
CuriousPanda2362
13:05
Big movement are bound to happen soon but it’s so eerily quiet
HopefullyInLawSchool
13:05
^^^^Me taking a dookie
CuriousPanda2362
13:05
Lmao
babycat
13:06
Ehh I think schools will prob release information on their YM applicants first before they even get to RD
babycat
13:06
I wouldn’t expect RD applicants to hear anything until after Thanksgiving bc they prioritize YM so heavily
HopefullyInLawSchool
13:06
I heard theyll do that at LSU but not 100% sure
2big2fail
13:09
berkeley status checker is so funny
13:11
berk today will be Huge if it happens
2big2fail
13:12
i think berkeley next wave will be in december
13:13
that is probable i just have a funny where i say “berk today” every single day
2big2fail
13:13
makes sense
@JumpySubsequentDolphin: TODAY IS OUR DAY also 1pm est or pst?
JumpySubsequentDolphin
13:14
YEAHHH SPLITTY. also PST
yo mama jokes will never not be funny
everyone trying to YM each other but no JM... damn :/
AHAHAHAAH
i'm lying in wait dw
if no gtown today i'm crashing out so bad yall don't even know
i will not be racist or say slurs tho unlike Some people
how bad on a scale of wild- evol bunny
HAHAHAH
BulbasaurNoLikeCardio
13:20
Evol bunny said they are dropping out and done with LS, they are too good for it so likely will never see the melt downs again
Dkk
13:20
@SplitterusClitterus: 11:22:24 PST, so in about an hour.
Dkk
13:21
Adios EvolBunny then
yall saw the shit at gtown rn w the pregnant 2l
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