Regular-Way Settlement: For equity securities, settlement occurs on a T+2 basis, meaning two business days after the trade date.
Calculation:
Trade Date (T): Thursday, August 2.
T+2 Settlement: Excludes weekends, so settlement falls on Monday, August 6.
Incorrect Options:
A: Reflects T+1, not the correct settlement cycle.
C & D: Extend beyond the standard T+2 cycle.
FINRA and SEC Settlement Rules: SEC Settlement Rules.
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