Trade Date — Settlement Date Schedule for 1998
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Internal Audit |
Syndicate |
Martin Luther King, Jr., Day: Trade Date — Settlement Date Schedule
The Nasdaq Stock MarketSM and the securities exchanges will be closed on Monday, January 19, 1998, in observance of Martin Luther King, Jr., Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:
| Trade Date | Settlement Date | Reg. T Date* |
| Jan. 12 | Jan. 15 | Jan. 20 |
| 13 | 16 | 21 |
| 14 | 20 | 22 |
| 15 | 21 | 23 |
| 16 | 22 | 26 |
| 19 | Markets Closed | — |
| 20 | 23 | 27 |
Presidents' Day: Trade Date — Settlement Date Schedule
The Nasdaq Stock Market and the securities exchanges will be closed on Monday, February 16, 1998, in observance of Presidents' Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:
| Trade Date | Settlement Date | Reg. T Date* |
| Feb. 9 | Feb. 12 | Feb. 17 |
| 10 | 13 | 18 |
| 11 | 17 | 19 |
| 12 | 18 | 20 |
| 13 | 19 | 23 |
| 16 | Markets Closed | — |
| 17 | 20 | 24 |
Good Friday: Trade Date — Settlement Date Schedule
The Nasdaq Stock Market and the securities exchanges will be closed on Good Friday, April 10, 1998. "Regular way" transactions made on the business days noted below will be subject to the following schedule:
| Trade Date | Settlement Date | Reg. T Date* |
| April 2 | April 7 | April 9 |
| 3 | 8 | 13 |
| 6 | 9 | 14 |
| 7 | 13 | 15 |
| 8 | 14 | 16 |
| 9 | 15 | 17 |
| 10 | Markets Closed | — |
| 13 | 16 | 20 |
Memorial Day: Trade Date — Settlement Date Schedule
The Nasdaq Stock Market and the securities exchanges will be closed on Monday, May 25, 1998, in observance of Memorial Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:
| Trade Date | Settlement Date | Reg. T Date* |
| May 18 | May 21 | May 26 |
| 19 | 22 | 27 |
| 20 | 26 | 28 |
| 21 | 27 | 29 |
| 22 | 28 | June 1 |
| 25 | Markets Closed | — |
| 26 | 29 | 2 |
Independence Day: Trade Date — Settlement Date Schedule
The Nasdaq Stock Market and the securities exchanges will be closed on Friday, July 3, 1998, in observance of Independence Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:
| Trade Date | Settlement Date | Reg. T Date* |
| June 26 | July 1 | July 6 |
| 29 | 2 | 7 |
| 30 | 6 | 8 |
| July 1 | 7 | 9 |
| 2 | 8 | 10 |
| 3 | Markets Closed | — |
| 6 | 9 | 13 |
Labor Day: Trade Date — Settlement Date Schedule
The Nasdaq Stock Market and the securities exchanges will be closed on Monday, September 7, 1998, in observance of Labor Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:
| Trade Date | Settlement Date | Reg. T Date* |
| Aug. 31 | Sept. 3 | Sept. 8 |
| Sept. 1 | 4 | 9 |
| 2 | 8 | 10 |
| 3 | 9 | 11 |
| 4 | 10 | 14 |
| 7 | Markets Closed | — |
| 8 | 11 | 15 |
Columbus Day: Trade Date — Settlement Date Schedule
The schedule of trade dates-settlement dates below reflects the observance by the financial community of Columbus Day, Monday, October 12, 1998. On this day, The Nasdaq Stock Market and the securities exchanges will be open for trading. However, it will not be a settlement date because many of the nation's banking institutions will be closed.
| Trade Date | Settlement Date | Reg. T Date* |
| Oct. 2 | Oct. 7 | Oct. 9 |
| 5 | 8 | 12 |
| 6 | 9 | 13 |
| 7 | 13 | 14 |
| 8 | 14 | 15 |
| 9 | 15 | 16 |
| 12 | 15 | 19 |
| 13 | 16 | 20 |
Note: October 12, 1998, is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board.
Transactions made on Monday, October 12, will be combined with transactions made on the previous business day, October 9, for settlement on October 15. Securities will not be quoted ex-dividend, and settlements, marks to the market, reclamations, and buy-ins and sell-outs, as provided in the Uniform Practice Code, will not be made and/or exercised on October 12.
Veterans' Day And Thanksgiving Day: Trade Date — Settlement Date Schedule
The schedule of trade dates-settlement dates below reflects the observance by the financial community of Veterans' Day, Wednesday, November 11, 1998, and Thanksgiving Day, Thursday, November 26, 1998. On Wednesday, November 11, The Nasdaq Stock Market and the securities exchanges will be open for trading. However, it will not be a settlement date because many of the nation's banking institutions will be closed in observance of Veterans' Day. All securities markets will be closed on Thursday, November 26, in observance of Thanksgiving Day.
| Trade Date | Settlement Date | Reg. T Date* |
| Nov. 4 | Nov. 9 | Nov. 11 |
| 5 | 10 | 12 |
| 6 | 12 | 13 |
| 9 | 13 | 16 |
| 10 | 16 | 17 |
| 11 | 16 | 18 |
| 12 | 17 | 19 |
| 19 | 24 | 27 |
| 20 | 25 | 30 |
| 23 | 27 | Dec. 1 |
| 24 | 30 | 2 |
| 25 | Dec. 1 | 3 |
| 26 | Markets Closed | — |
| 27 | 2 | 4 |
Note: November 11, 1998, is considered a business day for receiving customers' payments under Regulation T of the Federal Reserve Board.
Transactions made on November 11 will be combined with transactions made on the previous business day, November 10, for settlement on November 16. Securities will not be quoted ex-dividend, and settlements, marks to the market, reclamations, and buy-ins and sell-outs, as provided in the Uniform Practice Code, will not be made and/or exercised on November 11.
Christmas Day And New Year's Day: Trade Date — Settlement Date Schedule
The Nasdaq Stock Market and the securities exchanges will be closed on Friday, December 25, 1998, in observance of Christmas Day, and Friday, January 1, 1999, in observance of New Year's Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:
| Trade Date | Settlement Date | Reg. T Date* |
| Dec. 17 | Dec. 22 | Dec. 24 |
| 18 | 23 | 28 |
| 21 | 24 | 29 |
| 22 | 28 | 30 |
| 23 | 29 | 31 |
| 24 | 30 | Jan. 4, 1999 |
| 25 | Markets Closed | — |
| 28 | 31 | 5 |
| 29 | Jan. 4, 1999 | 6 |
| 30 | 5 | 7 |
| 31 | 6v | 8 |
| Jan. 1, 1999 | Markets Closed | — |
| 4 | 7 | 11 |
Brokers, dealers, and municipal securities dealers should use the foregoing settlement dates for purposes of clearing and settling transactions pursuant to the National Association of Securities Dealers, Inc. (NASD®) Uniform Practice Code and Municipal Securities Rulemaking Board Rule G-12 on Uniform Practice.
Questions regarding the application of those settlement dates to a particular situation may be directed to the NASD Uniform Practice Department at (203) 375-9609.
* Pursuant to Sections 220.8(b)(1) 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 five business days of the date of purchase or, pursuant to Section 220.8(d)(1), make application to extend the time period specified. The date by which members must take such action is shown in the column titled "Reg. T Date."