2006 Trade Date — Settlement Date Schedule
This Notice has been updated to reflect the removal of Veterans' Day from the Trade Date - Settlement Date schedule, and to correct the Thanksgiving Reg. T date for the November 24 trade date.
INFORMATIONAL
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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 16, 2006, 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 | Reg. T Date* |
| Jan. 10 | Jan. 13 | Jan. 18 |
| 11 | 17 | 19 |
| 12 | 18 | 20 |
| 13 | 19 | 23 |
| 16 | Markets Closed | — |
| 17 | 20 | 24 |
Presidents' Day:
Trade Date—Settlement Date Schedule
The NASDAQ Stock Market and the securities exchanges will be closed on Monday, February 20, 2006, 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 | Reg. T Date* |
| Feb. 14 | Feb. 17 | Feb. 22 |
| 15 | 21 | 23 |
| 16 | 22 | 24 |
| 17 | 23 | 27 |
| 20 | Markets Closed | — |
| 21 | 24 | Feb. 28 |
Good Friday:
Trade Date—Settlement Date Schedule
The NASDAQ Stock Market and the securities exchanges will be closed on Good Friday, April 14, 2006. "Regular way" transactions made on the business days noted below will be subject to the following schedule:
| Trade Date | Settlement Date | Reg. T Date* |
| April 10 | April 13 | April 18 |
| 11 | 17 | 19 |
| 12 | 18 | 20 |
| 13 | 19 | 21 |
| 14 | Markets Closed | — |
| 17 | 20 | 24 |
Memorial Day:
Trade Date—Settlement Date Schedule
The NASDAQ Stock Market and the securities exchanges will be closed on Monday, May 29, 2006, 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 23 | May 26 | May 31 |
| 24 | 30 | June 1 |
| 25 | 31 | June 2 |
| 26 | June 1 | 5 |
| 29 | Markets Closed | — |
| 30 | June 2 | 6 |
Independence Day:
Trade Date—Settlement Date Schedule
The NASDAQ Stock Market and the securities exchanges will be closed on Tuesday, July 4, 2006, 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 | Reg. T Date* |
| June 28 | July 3 | July 6 |
| 29 | 5 | 7 |
| 30 | 6 | 10 |
| July 3 | 7 | 11 |
| 4 | Markets Closed | — |
| 5 | 10 | 12 |
Labor Day:
Trade Date—Settlement Date Schedule
The NASDAQ Stock Market and the securities exchanges will be closed on Monday, September 4, 2006, 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 | Reg. T Date* |
| Aug. 29 | Sept. 1 | Sept. 6 |
| 30 | 5 | 7 |
| 31 | 6 | 8 |
| Sept. 1 | 7 | 11 |
| 4 | Markets Closed | — |
| 5 | 8 | 12 |
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 9, 2006. 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 | Reg. T Date* |
| Oct. 3 | Oct. 6 | Oct. 10 |
| 4 | 10 | 11 |
| 5 | 11 | 12 |
| 6 | 12 | 13 |
| 9 | 12 | 16 |
| 10 | 13 | 17 |
Note:
October 9, 2006, is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board. Transactions made on Monday, October 9, will be combined with transactions made on the previous business day, October 6, for settlement on October 12. Securities will not be quoted ex-dividend, and settlements, marks to the market, reclamations, and buy-ins and sellouts, as provided in the Uniform Practice Code, will not be made and/or exercised on October 9.
Thanksgiving Day:
Trade Date—Settlement Date Schedule
The schedule of trade dates–settlement dates below reflects the observance of the financial community of Thanksgiving Day, Thursday, November 23, 2006. All securities markets will be closed on Thursday, November 23, 2006, in observance of Thanksgiving Day.
| Trade Date | Settlement Date | Reg. T Date* |
| Nov. 17 | Nov. 22 | Nov. 27 |
| 20 | 24 | 28 |
| 21 | 27 | 29 |
| 22 | 28 | 30 |
| 23 | Market Closed | — |
| 24 | 29 | Dec. 1 |
Christmas Day and New Year's Day:
Trade Date—Settlement Date Schedule
The NASDAQ Stock Market and the securities exchanges will be closed on Monday, December 25, 2006, in observance of Christmas Day and Monday, January 1, 2007, in observance of New Year's 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* |
| Dec. 19 | Dec. 22 | Dec. 27 |
| 20 | 26 | 28 |
| 21 | 27 | 29 |
| 22 | 28 | Jan 2, 2007 |
| 25 | Markets Closed | — |
| 26 | 29 | Jan. 3 |
| 27 | Jan. 2 | 4 |
| 28 | 3 | 5 |
| 29 | 4 | 8 |
| Jan 1, 2007 | Market Closed | — |
| 2 | 5 | 9 |
Brokers, dealers and municipal securities dealers should use the foregoing settlement dates for purposes of clearing and settling transactions pursuant to the NASD® Uniform Practice Code and the Municipal Securities Rulemaking Board Rule 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 "Reg. T Date."