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  • 03-78 2004 Trade Date — Settlement Date Schedule (Note: The Regulation T date for "regular way" transactions made on December 27, 2004, has been corrected to January 3, 2005 (from January 4, 2005))

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    INFORMATIONAL

    Trade Date—Settlement Date

    SUGGESTED ROUTING

    KEY TOPICS

    Internal Audit
    Legal and Compliance
    Municipal/Government Securities
    Operations
    Trading and Market Making

    Holiday Trade Date-Settlement Date
    Schedule

    Martin Luther King, Jr., Day:

    Trade Date-Settlement Date Schedule

    The Nasdaq Stock Market® and the securities exchanges will be closed on Monday, January 19, 2004, in observance of Martin Luther King, Jr., Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:

    Trade Date Settlement Date Regulation T Date*
    January 13 January 16 January 21
    14 20 22
    15 21 23
    16 22 26
    19 Markets Closed
    20 23 27

    Presidents' Day

    Trade Date-Settlement Date Schedule

    The Nasdaq Stock Market and the securities exchanges will be closed on Monday, February 16, 2004, in observance of Presidents' Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:

    Trade Date Settlement Date Regulation T Date*
    February 10 February 13 February 18
    11 17 19
    12 18 20
    13 19 23
    16 Markets Closed
    17 20 24

    Good Friday

    Trade Date-Settlement Date Schedule

    The Nasdaq Stock Market and the securities exchanges will be closed on Good Friday, April 9, 2004. "Regular way" transactions made on the business days noted below will be subject to the following schedule:

    Trade Date Settlement Date Regulation T Date*
    April 5 April 8 April 13
    6 12 14
    7 13 15
    8 14 16
    9 Markets Closed
    12 15 19

    Memorial Day

    Trade Date-Settlement Date Schedule

    The Nasdaq Stock Market and the securities exchanges will be closed on Monday, May 31, 2004, 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 Regulation T Date*
    May 25 May 28 June 2
    26 June 1 3
    27 2 4
    28 3 7
    31 Markets Closed
    June 1 4 8

    Independence Day

    Trade Date-Settlement Date Schedule

    The Nasdaq Stock Market and the securities exchanges will be closed on Monday, July 5, 2004, 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 Regulation T Date*
    June 29 July 2 July 7
    30 6 8
    July 1 7 9
    2 8 12
    5 Markets Closed
    6 9 13

    Note: October 11, 2004, is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board. Transactions made on Monday, October 11, will be combined with transactions made on the previous business day, October 8, for settlement on October 14. Securities will not be quoted exdividend, 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 11.

    Labor Day

    Trade Date-Settlement Date Schedule

    The Nasdaq Stock Market and the securities exchanges will be closed on Monday, September 6, 2004, 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 Regulation T Date*
    August 31 September 3 September 8
    Sept 1 7 9
    2 8 10
    3 9 13
    6 Markets Closed
    7 10 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 11, 2004. On this day, 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.

    Trade Date Settlement Date Regulation T Date*
    October 5 October 8 October 12
    6 12 13
    7 13 14
    8 14 15
    11 14 18
    12 15 19

    Note: November 11, 2004, 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 10, for settlement on November 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 November 11.

    Veterans' Day And Thanksgiving Day

    Trade Date-Settlement Date Schedule

    The schedule of trade dates-settlement dates below reflects the observance of the financial community of Veterans' Day, Thursday, November 11, 2004, and Thanksgiving Day, Thursday, November 25, 2004. On Thursday, 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 25, 2004, in observance of Thanksgiving Day.

    Trade Date Settlement Date Regulation T Date*
    November 5 November 10 November 12
    8 12 15
    9 15 16
    10 16 17
    11 16 18
    12 17 19
    19 24 29
    22 26 30
    23 29 December 1
    24 30 2
    25 Markets Closed
    26 December 1 3

    Christmas Day

    Trade Date-Settlement Date Schedule

    The Nasdaq Stock Market and the securities exchanges will be closed on Friday, December 24, 2004, in observance of Christmas Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:

    Trade Date Settlement Date Regulation T Date*
    December 20 December 23 December 28
    21 27 29
    22 28 30
    23 29 31
    24 Markets Closed
    27 30 January 3, 2005

    Brokers, dealers, and municipal securities dealers should use the foregoing settlement dates for purposes of clearing and settling transactions pursuant to the National Association of Securities Dealers, Inc. (NASD®) Uniform Practice Code and the Municipal Securities Rulemaking Board Rule (MSRB) G-12 on Uniform Practice.

    Questions regarding the application of those settlement dates to a particular situation may be directed to the Market Integrity Department at (203) 375-9609.

    * 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 "Regulation T Date."