HUGE NEWS FOR DAY TRADERS SCHWAB.READ.WOW.THIS IS AMAZING.MORE FLIPPING FOR FLIPPERS.MORE CHICKEN TRIOS.
The trade settlement period will be shortened to one day beginning May 28, 2024.
Trades executed on or after May 28, 2024 will settle on the next business day (T+1) for most U.S. and Canadian securities traded on U.S. exchanges. Currently, the settlement period is two business days after the trade date (T+2).
New shortened settlement period reduces risk.
This is an industry-wide change for most security transactions, which includes stocks, bonds, municipal securities, exchange-traded products, unit investment trusts, certain mutual funds and limited partnerships that trade on an exchange. The T+1 settlement period may benefit investors like you by reducing credit and liquidity risks present between the trade date and the settlement date.
Your next steps.
