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Re: meffoos post# 7

Thursday, 01/16/2020 5:05:37 PM

Thursday, January 16, 2020 5:05:37 PM

Post# of 82
Your purchase has to settle by that date. It used to be 3 days to settle, but they changed it to 2 days a few years ago.

Washington D.C., March 22, 2017 —

The Securities and Exchange Commission today adopted an amendment to shorten by one business day the standard settlement cycle for most broker-dealer securities transactions. Currently, the standard settlement cycle for these transactions is three business days, known as T+3. The amended rule shortens the settlement cycle to two business days, T+2.

The amended rule is designed to enhance efficiency, reduce risk, and ensure a coordinated and expeditious transition by market participants to a shortened standard settlement cycle.