Same-day substitution

Same-Day Substitution
Investment Dictionary:
Same-Day Substitution
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Same-day substitution
Definition: [crh] Offsetting changes in a margin account during the day that result in no overall change in the balance of the account.

Same-Day Substitution
The buying of one security and the selling of another security, usually of equal value, on the same day.
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Same-day substitution
Offsetting changes in a margin account during the day that result in no overall change in the balance of the account.

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.
Margin Trading ...

When a same-day substitution is made, a margin call is not generated, and there is no credit release to the special miscellaneous account (SMA). A long sale and a short sale are also considered a same-day substitution.

parties in good-the-same-day federal funds used by the Depository Trust Company for transactions in US government securities, short-term municipal notes, medium-term commercial paper notes, CMOs, and other instruments.
Same-day substitution ...

See also: Substitution, Margin account, Margin call, Short selling, Sell out