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Submitting a bond to a put

The procedure by which a holder declares an intention to sell the bond back: an instruction to the broker within an allotted window, followed by the trade on the appointed day.

How to read the number

Technically these are two operations — filing the demand and settling the trade. Time passes between them, and the bond is already committed during it.

When the metric lies

Also known as: put submission, exercising a put

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