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Carry-over day


A Stock Exchange term. Accounts are made up at stated intervals, normally of two weeks. The first day of each new account is known as the carry-over day, because those who have not the money. when the time comes for settlement, to take the shares they have asked a stockbroker to buy, often wish to carry over payment into the following accounting period.

Reference: The Penguin Business Dictionary, 3rd edt.