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Thursday, August 31, 2017

Equity Trader Alert #2017 - 181
Nasdaq T+2 Settlement Reminder

Category:

  • Industry Announcement

Markets Impacted:

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On March 22, 2017, the Securities and Exchange Commission adopted amendments to Rule 15c6-1(a) to shorten the standard settlement cycle from trade date plus three business days (T+3) to trade date plus two business days (T+2).

Starting on September 5, 2017, Regular Way trades will now settle on T+2 instead of T+3. In addition, the ex-dividend date for most distributions of cash, stock or warrants will be the first business day before the record date..

The implementation date for related rules necessary for the T+2 settlement cycle will also be September 5, 2017. The following rules will be affected:

Rule 11140 Nasdaq and BX
Rule 11150 Nasdaq and BX
Rule 11210 Nasdaq and BX
Rule 11320 Nasdaq and BX
Rule 11620 Nasdaq and BX
IM-11810 Nasdaq and BX
Phlx Rule 431
Phlx Rule 432
Phlx Rule 825

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