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U.S. Markets “T+2” Shortened Settlement Begins Tuesday
When you return from the long Labor Day holiday, your securities transactions in equities, corporate or municipal bonds, unit investment trusts, and any securities comprised of these security types will be subject to a “trade date plus 2 days” ( “T+2″) shortened settlement, from the current”T+3”. Thus, any trades executed on Tuesday will settle on September 7. The move harmonizes U.S. markets with most major international markets. It is also expected to reduce...