Holiday Settlement Schedule - November 1986
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 Veteran's Day, Tuesday, November 11, and Thanksgiving Day, Thursday, November 27. On Tuesday, November 11, 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 Veteran's Day. All securities markets will be closed on Thursday, November 27, in observance of Thanksgiving Day.
Trade Date-Settlement Date Schedule For "Regular-Way" Transactions
|
Trade Date |
Settlement Date |
Regulation T Date* |
|
November 3 |
November 10 |
November 12 |
|
4 |
12 |
13 |
|
5 |
13 |
14 |
|
6 |
14 |
17 |
|
7 |
17 |
18 |
|
10 |
18 |
19 |
|
11 |
18 |
20 |
|
November 19 |
26 |
December 1 |
|
20 |
28 |
2 |
|
21 |
December 1 |
3 |
|
24 |
2 |
4 |
|
25 |
3 |
5 |
|
26 |
4 |
8 |
|
27 |
MARKETS CLOSED |
- |
|
28 |
5 |
9 |
It should be noted that November 11 is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board.
Transactions made on Tuesday, November 11, will be combined with transactions made on the previous business day, November 10, for settlement on November 18. 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 November 11.
The foregoing settlement dates should be used by broker-dealers and municipal securities dealers for purposes of clearing and settling transactions pursuant to the Uniform Practice Code and Municipal Securities Rulemaking Board Rule G-12 on Uniform Practice.
Questions concerning this notice should be directed to the NASD 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."