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Rule 12. "Business Day"

This rule is no longer applicable.

Except as may be otherwise determined by the Exchange as to particular days, the term "business day" means any day on which the Exchange is open for business: provided, however, on any business day that the banks, transfer agencies and depositories for securities in New York State are closed:

(1) Except for orders containing non-regular way settlement instructions pursuant to Rule 14, deliveries or payments ordinarily due on such a day shall be due on the following business day;
(2) such a day shall not be considered as a business day in determining the day for settlement of a contract, the day on which stock shall be quoted ex-dividend or ex-rights, or in computing interest on contracts in bonds or premiums on loans of securities; and
(3) the right to mark to the market, to make reclamation, or to close contracts under Rule 284 [¶2284] (other than "cash" contracts made on such a day) shall not be exercised on such a day.

For list of holidays on which the Exchange will not be open for business see Rule 51.

Amended by SR-FINRA-2009-053 eff. July 30, 2009.
Amended by SR-FINRA-2009-007 eff. Mar. 13, 2009.
January 21, 1954.

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