 पिस्मल आप मैं रहीं रहीं तो भी लोग मुड्योल आप देरिवेटेप्स आज आम बात करेंगे की term used in derivative markets यह कुई बेसिक्स लवल की बाते हैं और दिखरें जगापे हम दिसकास पी करें आप देरिवेटेप आप देरिवेटेप देरिवेटेप देरिवेटेप देरिवे� तो, अब आम ढमिगे, मी ठीभात पर सध मैंसगापे है, रहीं ताे कमी कि तेस pitcher thats, थे बिदगा हिंक, ईह मूल बहilan नेर�janne rename Close यह जे गयी, डरिवेटेप देरिर्ने ओर देरिवेटेप ने और तीवेटेप उन्फाथetesी the delivery of the product, which is underline. The spot market is also known as cash market or physical market because cash payments are processed immediately and there is a physical exchange of assets, i.e. assets actually change of hand from one to the other. i.e. payments will also be there and change of hand of assets will also be there, physical delivery will also be there. In spot market delivery and cash normally take place on spot but this does not mean that it is necessary at the same time that it will work only in a minute. There can be some transaction lead time, which is an example specifically in the stock market. If you see that if you buy a share today, you call your broker that I want 10,000 shares of Mr. Adam, then he said that there is money in your account and confirmed your willingness and then this transaction is locked on the market rate. But this does not mean that immediately it will come at the same time because there are many orders coming at the same time. So the rule is that today you do the transaction, after two days of transaction, money will move from your account and that specific share will come in your account. It is called T plus 2, transaction plus 2, i.e. the settlement that will be after two days. This is a spot market only but the number of volumes is so much and many times if you are buying or selling in a day, then these transactions are being executed on the net position so the issue is that T plus 2, T plus 1 also exists in certain cases but this is T plus 2 but again it is a spot market transaction. Despite the T plus 2 settlement, the contract between buyer and seller is performed at spot at the prevailing. The settlement is being talked about for two days but the transaction that is locked on the net position will be executed today only, i.e. the rate in which we talked about the buying rate will be the payment and delivery of the asset that will be done after two days. So this logic is important to understand that in the spot market it is not that immediately it has gone to the shop and immediately it has come here. It can take a little process time but the rate will be the day the transaction has taken place. In contrast to forward and future markets where parties agree to trade at forward or future price then delivery is expected in future i.e. that could be even 30 days or any period of time. Therefore as opposed to stock spot market, forward and future make contract today but settlement is done in future, its settlement will take time. Settlement date. Settlement date is an industry term that refers to date when trade or derivative is deemed final. The day it is concluded, the day it is closed. And seller must transfer the ownership of the bar to the buyer that whoever has bought the item will be transferred physically and the other payments will be done. That is referred to as settlement. This is a journal word which is frequently used in our different times and examples. It is the actual date when the seller completes the transfer of assets and the payment is made. The duration between the transaction date also known as trade date and settlement date varies on the type of security or in which market we are talking about. It can vary a lot. For example settlement date for T bills is the next day As I mentioned earlier, T plus 2 was there T bills for T plus 1 will be next day. Stocks for T plus 2 is there. Settlement date excludes weekends. Like Friday when the transaction is done, that does not mean Sunday or Saturday. If two working days are off, then these are two working days. So Friday will be settled on after two working days. These weekends or public holidays exclude us. We are talking about operational understanding and these terms will be used for multiple times. Delivery method The physical delivery method of settling in walls literally is the physical delivery of underlying that you actually give the asset. If you buy a share, then the share will go or if you purchase a gandum, let's suppose in a contract then you will get the gandum and the buyer will pay for it. The physical settlement process is coordinated and settled by a clearing broker or clearing agent who are routing and channelizing it. If the contract holders opt to take a short position they are responsible for the physical delivery. If someone has taken a short position on the sell side then the buyer who has a long side is responsible for providing the product. Sometimes it happens that people only enter the contract and they don't have the commodity at that time. At the time of settlement, they have to arrange the commodity and provide them to the buyer's agreement. So these are multiple terms which are frequently used and we should have a basic thought understanding of these because these are like bottom line of any derivative contract which we operate. Thank you.