Series 99: 2.1.4.2.1 Standard Settlement Timeframes

Taken from our Series 99 Top-off Online Guide

2.1.4.2.1  Standard Settlement Timeframes

The length of the settlement period differs by type of security, as shown in the table below.

Date of Settlement

Type of Security

Same day

  • Certificates of deposit
  • Commercial paper

Next day (T + 1)

  • Options
  • T-bills
  • T-notes
  • T-bonds

Two days after trade (T + 2)

  • Forex transactions
  • Municipal bonds
  • Corporate securities
  • Government agency securities

Non-standard timeframes may be used in rare circumstances. Extended settlement terms may be used when the security will not be ready for delivery at a s

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