Cover. A term used on the London Stock Exchange, which means the security deposited by a
borrower with the lender or by a speculator with a broker to protect the lender or broker against
loss. Besides the cover speculators often have to deposit money to protect the lender or broker in
case the value of the security deposited as cover falls rapidly. This money is called margin.  
Margin is not required to any great extent in London, where credit enters more largely into
business in stocks, and in fact in other things, than in New York. When the credit of the client
(customer) in London is established his broker does not ordinarily call on him for any cash until
the next settlement (see Settlement, The).