A mechanism in an exchange-for-value settlement system which ensures that the final transfer of assets (securities or other financial instruments) occurs if, and only if, the final transfer of another asset (or other assets) occurs.
DELIVERY VERSUS PAYMENT SYSTEM
Meaning of DELIVERY VERSUS PAYMENT SYSTEM in English
European Central Bank English Glossary. Английский глоссарий Европейского Центрального Банка. 2012