Holiday Settlement Schedule February, 1983
TO: All NASD Members and Municipal Securities Bank Dealers
ATTN: All Operations Personnel
Securities markets and the NASDAQ System will be closed on Monday, February 21, 1983, in observance of Washington's Birthday. "Regular-Way" transactions made on the business days preceding that day will be settled according to the following schedule.
Trade Date-Settlement Date Schedule For "Regular-Way" Transactions
Trade Date |
Settlement Date |
* Regulation T Date |
February 14 |
February 22 |
February 24 |
15 |
23 |
25 |
16 |
24 |
28 |
17 |
25 |
March 1 |
18 |
28 |
2 |
22 |
March 1 |
3 |
The above settlement dates should be used by broker-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 concerning the application of these settlement dates may be directed to the Uniform Practice Department at (212) 839-6257.
* * * *
* Pursuant to Section 4(c)(2) 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 4(c)(6), make application to extend the time period specified. The date members must take such action is shown in the column entitled "Regulation T Date."