™On a quote of $49.95 bid and $50.05 ask, settlement helps explain part of what can happen between submitting an order and receiving a fill.
Orders & Market Structure
Settlement
The process that finalizes the exchange of securities and cash after a trade.
Plain-English context
Why it matters
Market-structure language affects how an instruction reaches the market and the price or execution a trader may actually receive.
Assuming Settlement has one universal interpretation without checking the source, rules, timeframe or methodology.
Use current definitions. Product terms, tax treatment and market rules can change. Confirm important details with official disclosures, regulators and regulated providers.