For the opening. When a stock is sold for the opening delivery of it to the purchaser is to be
made on the opening of the transfer books of the company which issued it. The delay in delivery
until that time is because the stock has been assigned to a specified individual by the original
owner instead of having been assigned (or signed) in blank (see Assigned in blank) and,
therefore, not being a delivery (not being in deliverable form) it is necessary to wait until a new
certificate can be obtained before making delivery to the buyer.
Also see At the opening.