How will regular way dividend ex dates be treated with the new T+1 settlement timeframe?
Good question - we just updated our platform yesterday to include a note about this!
On May 28th, 2024, settlement for regular-way trades will be shortened from T+2 to T+1. If you already studied the T+2 timeline, don’t worry! The logic is the same; the correct answer will just be one business day sooner. We will update our materials to reflect the updated T+1 timeline on May 27th.
FINRA exam updates go live May 28th:
- For exams May 27th or before: T+2
- For exams May 28th or after: T+1
Thank you. I appreciate your response.
just to be clear, there are not more T+ 2 settlement days for anything?!
That’s right - on May 28th, all T+2 settlement changes to T+1.
That includes bonds and stocks settlement dates, too?
Can you clarify which chapters of the SIE textbook for Achievable will be affected by this change so I know to go back to those for practice questions? Just want a complete list.
Hi @Myra_Kunde, ALL T+2 settlement timelines will be updated to T+1 on May 28th.
This includes stocks, bonds, option settlement… everything!
We have 40+ pages and 200+ questions to update on May 27th, so it isn’t really feasible to send a list for your review. Don’t stress about it though - if you already learned the T+2 timeline, it’s just a business day sooner.
@Justin Not asking for an entire list of each specific section, though. Just a list of chapters affected.
I’m not going to be accurate using this example, but something along the lines of “The new settlement dates affect chapters 1, 3, 5… etc.”
Sure, when I redo the practice questions from previous chapters over again, I can mentally make a note that T+2 is no longer the answer to stock settlement or municipal/corporate bonds, etc.
Hi @Myra_Kunde, here is an initial list of chapters we are updating:
Series 6
- Transactions | Options | Common stock | Achievable Series 6
- Characteristics | Common stock | Achievable Series 6
- Index options | Options | Common stock | Achievable Series 6
Series 65
- Transactions | Options | Derivatives | Investment vehicle characteristics | Achievable Series 65
- Roles in the industry | Trading securities | Recommendations & strategies | Achievable Series 65
- Index options | Options | Derivatives | Investment vehicle characteristics | Achievable Series 65
- Preferred stock | Equity | Investment vehicle characteristics | Achievable Series 65
- Trading & the market | Equity | Investment vehicle characteristics | Achievable Series 65
- Cash & margin accounts | Trading securities | Recommendations & strategies | Achievable Series 65
Series 66
- Roles in the industry | Trading securities | Recommendations & strategies | Achievable Series 66
- Trading & the market | Equity | Investment vehicle characteristics | Achievable Series 66
- Index options | Options | Derivatives | Investment vehicle characteristics | Achievable Series 66
- Transactions | Options | Derivatives | Investment vehicle characteristics | Achievable Series 66
- Cash & margin accounts | Trading securities | Recommendations & strategies | Achievable Series 66
- Preferred stock | Equity | Investment vehicle characteristics | Achievable Series 66
- Common stock | Equity | Investment vehicle characteristics | Achievable Series 66
Series 7
- Exercise process | Regulations | Options | Achievable Series 7
- Deposit requirements | Margin accounts | Brokerage accounts | Achievable Series 7
- Issuance & the market | Option contracts & the market | Options | Achievable Series 7
- Introduction and SIE review | Common stock | Achievable Series 7
- Settlement | Trading | Bond fundamentals | Achievable Series 7
- Review | Preferred stock | Achievable Series 7
- Rights & warrants | Equity securities & trading | Common stock | Achievable Series 7
- Cash dividends | Equity securities & trading | Common stock | Achievable Series 7
- Accrued interest | Trading | Bond fundamentals | Achievable Series 7
- Index options | Non-equity options | Options | Achievable Series 7
Series 9
- Issuance & the market | Contracts & the market | Strategies | Achievable Series 9
- Stock split & dividend adjustments | Options contracts | Rules & regulations | Achievable Series 9
- Index options | Non-equity options | Strategies | Achievable Series 9
- The exercise process | Options contracts | Rules & regulations | Achievable Series 9
- Premiums & exercise | Contracts & the market | Strategies | Achievable Series 9
SIE
- Trading | Debt securities | Achievable SIE
- Transfer ownership | Rights of common stockholders | Common stock | Achievable SIE
- Cash dividends | Trading | Common stock | Achievable SIE
- Index options | Strategies | Options | Achievable SIE
- Deposit requirements | Margin accounts | Brokerage accounts | Achievable SIE
- Issuance & the market | Contracts and the market | Options | Achievable SIE
- Settlement | Trading | Common stock | Achievable SIE