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  • 83-23 Memorial Day Trade Date — Settlement Date Schedule

    TO: All NASD Members and Municipal Securities Bank Dealers

    ATTN: All Operations Personnel

    Securities markets and the NASDAQ System will be closed on Monday, May 30, 1983, in observance of Memorial Day. "Regular-Way" transactions made on the business day preceding that day will be subject to the following schedule.

    Trade Date-Settlement Date Schedule For "Regular-Way" Transactions

    Trade Date

    Settlement Date

    *Regulation Date

    May 23

    May31

    June2

    24

    June1

    3

    25

    2

    6

    26

    3

    7

    27

    6

    8

    31

    7

    9

    * * *

    The foregoing settlement dates should be used by brokers, dealers and municipal securities dealers for purposes of clearing and settling transactions pursuant to the Association's Uniform Practice Code and Municipal Securities Rulemaking Board Rule G-12 on Uniform Practice. Questions regarding this notice may be directed to the Uniform Practice Department at (212) 839-6257.


    * Pursuant to Section 4(c)(2) of Regulation T of the Federal Reserve Board, a broker-dealer must promptly cancel or otherwise liquidate a 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 4(c)(6), make application to extend the time period specified. The date members must take such action is shown in the column entitled "Regulation T Date."