Holiday Settlement Schedule — February, 1985
TO: All NASD Members and Municipal Securities Bank Dealers
ATTN: All Operations Personnel
The schedule of trade dates/settlement dates below reflects the observance by the financial community of Lincoln's Birthday, Tuesday, February 12 and Washington's Birthday, Monday, February 18. On Tuesday, February 12, the NASDAQ System and the exchange markets will be open for trading. However, it will not be a settlement date since many of the nation's banking institutions will be closed in observance of Lincoln's Birthday. All securities markets will be closed on Monday, February 18, in observance of Washington's Birthday.
Trade Date-Settlement Date Schedule For "Regular-Way" Transactions
|
Trade Date |
Settlement Date |
Regulation T Date* |
|
February 4 |
February 11 |
February 13 |
|
5 |
13 |
14 |
|
6 |
14 |
15 |
|
7 |
15 |
19 |
|
8 |
19 |
20 |
|
11 |
20 |
21 |
|
12 |
20 |
22 |
|
13 |
21 |
25 |
|
14 |
22 |
26 |
|
15 |
25 |
27 |
|
18 |
Markets Closed |
— |
|
19 |
26 |
28 |
It should be noted that February 12 is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board.
Transactions made on Tuesday, February 12 will be combined with transactions made on the previous business day, February 11, for settlement on February 20. Securities will not be quoted ex-dividend and settlements, marks to the market, reclamations, buy-ins and sell-outs, as provided in the Uniform Practice Code, will not be made and/or exercised on February 12.
The foregoing settlement dates should be used by broker-dealers and municipal securities dealers for purposes of clearing and settleing transactions pursuanat to the Association's Uniform Practice Code and Municipal Securities Rulemaking Board Rule G-12 on Uniform Practice.
Questions concerning this notice should be directed to the Uniform Practice Department 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 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 220.8(d)(l), 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."