1.The day on which an executed security trade must be settled; the day on which a buyer must pay for the securities delivered by the seller. In relation to the shares traded through the Stock Exchange of Hong Kong, the settlement day is usually two working days after the trade was executed. 2. In the derivatives market, the settlement day is the date upon which the parties must fulfil their obligations specified in the futures or options contract. Derivatives contracts can be settled physically, that means the seller will deliver the underlying asset in exchange for cash, therefore they are usually cash settled.
1.已簽立的保付合約必須交收的日期；買方必須支付由賣方交付的證券的日期。就透過香港聯合交易所買賣的股票而言，交收日通常是於有關貿易簽立之後的兩個工作天。　　2. 在衍生工具市場，交收日是各方必須履行他們在期貨或期權合約指明的責任的日期。衍生工具合約可以物質交收，即賣方可交付相關資產以交換現金，因而通常以現金交收。

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