SIE Exam Practice Question 204
Question: 204
A stock trade executed on Wednesday, December 31, will settle on what date?
Correct Answer: A
Explanation:
Stock trades ordinarily settle on a T+2 schedule, meaning that the settlement date is two business days following the trade date (T). Therefore, a stock trade executed on Wednesday, December 31, would settle on Monday, January 5, which is two business days later since January 1 is a trading holiday and weekends do not count as business days.
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