Christmas Day–New Year's 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 Tuesday, December 25, 1984, Christmas Day, and Tuesday, January 1, 1985, New Year's Day. "Regular Way" transactions made on the preceding business days will be subject to the settlement date schedule listed below.
Trade Date-Settlement Date Schedule For "Regular-Way" Transactions
|
Trade Date |
Settlement Date |
Regulation T Date* |
|
December 17 |
December 24 |
December 27 |
|
18 |
26 |
28 |
|
19 |
27 |
31 |
|
20 |
28 |
January 2 1985 |
|
21 |
31 |
3 |
|
24 |
January 2 1985 |
4 |
|
25 |
Markets Closed |
— |
|
26 |
January 3 1985 |
7 |
|
27 |
4 |
8 |
|
28 |
7 |
9 |
|
31 |
8 |
10 |
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 the application of these settlement dates to a particular situation may be directed to the Uniform Practice Department of the NASD at (212) 839-6256.
* * * *
* Pursuant to Section 4(e)(2) 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 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 by which members must take such action is shown in the column entitled "Regulation T Date."