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89-9 Trade Date-Settlement Date Schedule for 1989

SUGGESTED ROUTING*

Senior Management
Internal Audit
Legal & Compliance
Municipal
Operations
Syndicate
Systems
Trading

*These are suggested departments only. Others may be appropriate for your firm.

Martin Luther King, Jr., Day: Trade Date-Settlement Date Schedule

The schedule of trade dates-settlement dates below reflects the observance by the financial community of Martin Luther King, Jr., Day, Monday, January 16, 1989. On January 16, the NASDAQ System and the exchange markets will be open for trading. However, it will not be a settlement date because many of the nation's banking institutions will be closed.

Trade Date

Settlement Date

Reg. T Date*

January 5

12

16

6

13

17

9

17

18

10

18

19

11

19

20

12

20

23

13

23

24

16

23

25

17

24

26

Note: January 16, 1989, is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board.

Securities will not be quoted ex-dividend, and settlements, marks to the market, reclamations, and buy-ins and sell-outs, as provided in the Uniform Practice Code, will not be made and/or exercised on January 16.

Editors' Note: The Reg. T date for January 12 trades erroneously was reported to be January 24, 1989, in the December issue of Notices to Members. The correct Reg. T date for January 12 trades is, as listed, January 23, 1989.

Presidents' Day: Trade Date-Settlement Date Schedule

Securities markets and the NASDAQ System will be closed on Monday, February 20, 1989, in observance of Presidents' Day. "Regular way" transactions made on the preceding business days will be subject to the settlement date schedule listed below.

Trade Date

Settlement Date

Reg. T Date*

February 10

17

22

13

21

23

14

22

24

15

23

27

16

24

28

17

27

March 1

20

Markets Closed

21

28

2

Good Friday: Trade Date-Settlement Date Schedule

Securities markets and the NASDAQ System will be closed on Good Friday, March 24, 1989. "Regular way" transactions made on the business days immediately preceding that day will be subject to the following schedule:

Trade Date

Settlement Date

Reg. T Date*

March 16

23

28

17

27

29

20

28

30

21

29

31

22

30

April 3

23

31

4

24

Markets Closed

27

April 3

5

Memorial Day: Trade Date-Settlement Date Schedule

Securities markets and the NASDAQ System will be closed on Monday, May 29, 1989, in observance of Memorial Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:

Trade Date

Settlement Date

Reg. T Date*

May 19

26

31

22

30

June 1

23

31

2

24

June 1

5

25

2

6

26

5

7

29

Markets Closed

30

6

8

Independence Day: Trade Date-Settlement Date Schedule

Securities markets and the NASDAQ System will be closed on Tuesday, July 4, 1989, in observance of Independence Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:

Trade Date

Settlement Date

Reg. T Date*

June 26

July 3

July 6

27

5

7

28

6

10

29

7

11

30

10

12

July 3

11

13

4

Markets Closed

5

12

14

Labor Day: Trade Date-Settlement Date Schedule

Securities markets and the NASDAQ System will be closed on Monday, September 4, 1989, in observance of Labor Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:

Trade Date

Settlement Date

Reg. T Date*

August 25

September 1

September 6

28

5

7

29

6

8

30

7

11

31

8

12

September 1

11

13

4

Markets Closed

5

12

14

Columbus Day: Trade Date-Settlement Date Schedule

The schedule of trade dates-settlement dates below reflects the observance by the financial community of Columbus Day, Monday, October 9, 1989. On this day, the NASDAQ System and the exchange markets will be open for trading. However, it will not be a settlement date since many of the nation's banking institutions will be closed in observance of Columbus Day.

Trade Date

Settlement Date

Reg. T Date*

September 28

October 5

October 9

29

6

10

October 2

10

11

3

11

12

4

12

13

5

13

16

6

16

17

9

16

18

10

17

19

Note: October 9, 1989, is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board.

Transactions made on Monday, October 9, will be combined with transactions made on the previous business day, October 6, for settlement on October 16. Securities will not be quoted ex-dividend, and settlements, marks to the market, reclamations, and buy-ins and sell-outs, as provided in the Uniform Practice Code, will not be made and/or exercised on October 9.

Veteran's Day and Thanksgiving Day: Trade Date-Settlement Date Schedules

The schedule of trade dates-settlement dates below reflects the observance by the financial community of Veteran's Day, Friday, November 10, 1989, and Thanksgiving Day, Thursday, November 23, 1989. On Friday, November 10, the NASDAQ System and the exchange markets will be open for trading. However, it will not be a settlement date since many of the nation's banking institutions will be closed in observance of Veteran's Day. All securities markets will be closed on Thursday, November 23, in observance of Thanksgiving Day.

Trade Date

Settlement Date

Reg. T Date*

November 2

9

13

3

13

14

6

14

15

7

15

16

8

16

17

9

17

20

10

17

21

13

20

22

14

21

24

15

22

27

16

24

28

17

27

29

20

28

30

21

29

December 1

22

30

4

23

Markets Closed

24

December 1

5

Note: November 10 is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board.

Transactions made on November 10 will be combined with transactions made on the previous day, November 9, for settlement on November 17. Securities will not be quoted ex-dividend, and settlements, marks to the market, reclamations, buy-ins, and sell-outs, as provided in the Uniform Practice Code, will not be made and/or exercised on November 10.

Christmas Day and New Year's Day: Trade Date-Settlement Date Schedule

Securities markets and the NASDAQ System will be closed on Monday, December 25, 1989, Christmas Day, and Monday, January 1, 1990, New Year's Day. "Regular way" transactions made on the preceding business days will be subject to the settlement date schedule listed below.

Trade Date

Settlement Date

Reg. T Date*

December 15 1989

22

27

18

26

28

19

27

29

20

28

January 2 1990

21

29

3

22

January 2, 1990

4

25

Markets Closed

26

3

5

27

4

8

28

5

9

29

8

10

Janauary 1 1990

Markets Closed

2

9

11

The foregoing settlement dates should be used by brokers, dealers, and municipal securities dealers for purposes of clearing and settling transactions pursuant to the NASD 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 Uniform Practice Department at (212) 858-4341.


*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 "Reg. T Date."



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