SEC approves 2-Day Settlement Date Change
I got this from Scottrade... looks like there will be a change from a 3-day settlement date to a 2-day. :fing02:
Quote:
Recently, the SEC approved an industry wide-initiative to adopt a shortened settlement cycle for most trades. The goal of this initiative is to increase efficiency and reduce risk within the marketplace. Starting on September 5, 2017, most security trades will begin to settle in two business days instead of three.
For more information, please click here, or contact your local Scottrade® team.
Re: SEC approves 2-Day Settlement Date Change
I have Scottrade too and saw the same thing today. I'm sure okay with that myself. :smile:
Re: SEC approves 2-Day Settlement Date Change
This is good news especially to small time traders like me who has limited amount to play with...
Re: SEC approves 2-Day Settlement Date Change
It's here! From Fidelity...
Quote:
Get ready for the change to two-day trade settlement
Starting September 5, 2017, your wait time between trade and settlement will shorten from three business days (also known as T+3) to two business days (T+2). The updated timeline affects most common security types, including equities, ETFs, and corporate and municipal bonds.
Faster settlements benefit customers by:
• Potentially reducing risk for investors and financial markets
• Delivering sales of securities, payments of dividends, and interest from securities faster
