We use necessary cookies to make our site work (for example, to manage your usage journey on the site). We also use some additional cookies (including third-party cookies) to help us improve the site functionality and user experience. For more information, on how these cookies work please see our Cookie policy.
(a) an agreement between a seller and buyer for the sale of securities, under which the seller agrees to repurchase the securities, or equivalent securities, at an agreed date and, usually, at a stated price;
(b) an agreement between a buyer and seller for the purchase of securities, under which the buyer agrees to resell the securities, or equivalent securities, at an agreed date and, usually, at a stated price.5