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98-37 Memorial Day: Trade Date — Settlement Date Schedule

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Memorial Day: Trade Date — Settlement Date Schedule

The Nasdaq Stock MarketSM and the securities exchanges will be closed on Monday, May 25, 1998, 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 18 May 21 May 26
19 22 27
20 26 28
21 27 29
22 28 June 1
25 Markets Closed
26 29 2


* 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 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 titled "Reg. T Date."


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