View Whole SectionText only Print Print Manager Link
Previous Next

86-5 Presidents' Day: Trade Date-Settlement Date Schedule

TO: All NASD Members and Municipal Securities Dealers

ATTN: All Operational Personnel

Securities markets and the NASDAQ System will be closed on Monday, February 17, 1986, in observance of Presidents' Day. "Regular-way" transactions made on the preceding business days will be subject to the settlement date schedule listed below.

The NASDAQ System and the banks in New York State will be open on February 12, 1986, Lincoln's Birthday.

Trade Date-Settlement Date Schedule For "Regular-Way" Transactions

Trade Date

Settlement Date

Regulation T Date*

February 7

February 14

February 19

10

18

20

11

19

21

12

20

24

13

21

25

14

24

26

17

MARKETS CLOSED

18

25

27

The preceding settlement dates should be used by brokers, dealers, and municipal securities dealers for purposes of clearing and settling transactions pursuant to the NASD's Uniform Practice Code and Municipal Securities Rulemaking Board Rule G-12 on Uniform Practice.

Questions regarding the application of these settlement dates to a particular situation may be directed to the NASD's Uniform Practice Department at (212) 839-6256.

* * * * *


* Pursuant to Sections 220.8(b)(l) and (4) of Regulation T of the Federal Reserve Board, a broker-dealer must promptly cancel or otherwise liquidate a customer purchase transaction in a cash account if full payment is not received within seven (7) business days of the date of purchase or, pursuant to Section 220.8(d)(l), make application to extend the time period specified. The date by which members must take such action is shown in the column entitled "Regulation T Date."



Previous Next