On............. day, the exchange will deliver the share or make payment to the other broker.
Answer & explanation
Correct answer: option 2
The correct answer is option 2- T+2 Day.
On the T+2 day, the exchange will deliver the share or make payment to the other broker. This is called the pay-out day. The broker then has to make payment to the investor within 24 hours of the pay-out day since he has already received payment from the exchange.