Labor 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, September 2, 1985, in observance of Labor Day. "Regular-Way" transactions made on the business days immediately preceding that day will be subject to the following schedule.
Trade Date-Settlement Date Schedule For "Regular-Way" Transactions
|
Trade Date |
Settlement Date |
*Regulation TDate |
|
August 23 |
August 30 |
September 4 |
|
26 |
September 3 |
5 |
|
27 |
4 |
6 |
|
28 |
5 |
9 |
|
29 |
6 |
10 |
|
30 |
9 |
11 |
|
September 2 |
Markets Closed |
— |
|
3 |
10 |
12 |
The foregoing settlement dates should be used by brokers, dealers and municipal securities dealers for purpose of clearing and settling transactions pursuant to the Association's Uniform Practice Code and Muncipal 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 Sections 220.8(b)(l) and (4) 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 220.8(d)(l), make application to extend the time period specified. The date members must take such action is shown in the column entitled "Regulation T Date."