Trade Settlement Time Shortened to 1 Business Day (T+1)

Starting May 28, 2024, the trade settlement period for stocks and ETFs will change from 2 days (T+2) to 1 day (T+1). The trade settlement period is the time from when a trade is made to when it's finalized. This industry-wide change aligns with the recent regulatory updates from the SEC (Securities and Exchange Commission) and FINRA (Financial Industry Regulatory Authority).

Here's what this means for you:

When you place an order to sell a stock or ETF (by 3:00 PM ET), your trade proceeds will now be available just 1 business day after (T+1) the trade is executed. For example, if you place an order to sell shares of a stock on Monday (by 3:00 PM ET), your trade proceeds will be available by Tuesday. If you place an order to sell shares on a Friday (by 3:00 PM ET), your trade proceeds will be available by Monday.

No action is required on your end. The new T+1 settlement period will automatically apply to all trades starting May 28, 2024.

Have any questions or need assistance? Please reach out to our customer care team at support@stockpile.com.