Elite Pharmaceuticals Inc (ELTP)

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As of July 2012, stock trades must be settled within three days, often annotated as T+3 settlement. When a stock order is filled by a broker, either by phone or electronically, the trade officially settles three business days later. When you buy shares, day one of the three days is the day after you made the trade. You become the shareholder of record on day three. The three days do not include weekend and holidays -- only days when the stock market is open.