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same-day substitution

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Financial Dictionary

Same-Day Substitution

An offsetting change in a margin account, made over the trading day, that results in no overall change in the value of the account. When a same-day substitution is made, a margin call is not generated.

Investopedia Commentary

A same-day substitution happens when a rise in the market value of one margin security is offset by an equal decline in another.

Related Links

Margin Trading Tutorial

See also: Initial Margin, Leverage, Maintenance Margin, Margin, Margin Account, Margin Call, Market Value, Minimum Margin, Offset

Also spelled: Same Day Substitution, Sameday substitution

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UPS® Express Critical
Have an Urgent Shipping Need? We Can Handle It. UPS Express Critical
www.upsexpresscritical.com
Financial Dictionary

same-day substitution

Changes in a margin account that offset such that there is no change in the total value of the account. For example, an increase in the market value of one security may offset the market decline in another security so that no margin call is required.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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