FINRA Manual: Contents
|View Whole Section||Text only||Print Manager||Link|
96-74 Veterans' Day And Thanksgiving Day: Trade Date—Settlement Date Schedule
Legal & Compliance
Veterans' Day And Thanksgiving Day: Trade Date-Settlement Date Schedule
The schedule of trade dates-settlement dates below reflects the observance by the financial community of Veterans' Day, Monday, November 11, 1996, and Thanksgiving Day, Thursday, November 28, 1996. On Monday, November 11, The Nasdaq Stock Market and the securities exchanges will be open for trading. However, it will not be a settlement date because many of the nation's banking institutions will be closed in observance of Veterans' Day. All securities markets will be closed on Thursday, November 28, in observance of Thanksgiving Day.
|Trade Date||Settlement Date||Reg. T Date*|
|Nov. 5||Nov. 8||Nov. 12|
Note: November 11, 1996, is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board.
Transactions made on November 11 will be combined with transactions made on the previous business day, November 8, for settlement on November 14. 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 November 11.
*Pursuant to Sections 220.8(b)(1) 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 five (5) business days of the date of purchase or, pursuant to Section 220.8(d)(1), 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."