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Posted: 7/26/2017 11:07:36 PM EDT
Press release
FOR IMMEDIATE RELEASE 2017-68 Washington D.C., March 22, 2017— The Securities and Exchange Commission today adopted an amendment to shorten by one business day the standard settlement cycle for most broker-dealer securities transactions. Currently, the standard settlement cycle for these transactions is three business days, known as T+3. The amended rule shortens the settlement cycle to two business days, T+2. The amended rule is designed to enhance efficiency, reduce risk, and ensure a coordinated and expeditious transition by market participants to a shortened standard settlement cycle. “As technology improves, new products emerge, and trading volumes grow, it is increasingly obvious that the outdated T+3 settlement cycle is no longer serving the best interests of the American people,” said SEC Acting Chairman Michael Piwowar. “The SEC remains committed to ensuring that U.S. securities regulation is reflective of modern times, and in shortening the settlement cycle by one day we aim to increase efficiency and reduce risk for market participants.” Broker-dealers will be required to comply with the amended rule beginning on Sept. 5, 2017. To assist broker-dealers, other securities professionals and the investing public in their preparation for the implementation of a T+2 settlement cycle, the Commission has established an e-mail address – [email protected] – for the submission of inquiries to SEC staff. 
@midcap @exponentialpi |
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Posted: 7/26/2017 11:20:26 PM EDT
[#1]
WOO HOO!
I am glad to see it, it's rare people have physical certs anymore. Though I actually saw some from 1993 in the office the other day from some obscure company. During the 1700s the Amsterdam stock exchange had close links with the London stock exchange and they would often list each other's stocks. To clear the trades, time was required for the physical stock certificate or cash to move from Amsterdam to London and back. This led to standard settlement period of 14 days which was the time it usually took for a courier to make the journey on horseback and by ship. Most exchanges continued to use the same model over the next few hundred years. With the advent of new technology in the 1970s and 1980s there was a move to reduce settlement times, and settlement dates in most exchanges reduced to five days (known as T+5) then down to three days (known as T+3 or Trade date plus three days).
Efforts are also underway in Europe to shorten the settlement cycle for stocks to two days ("T+2"), driven by the European Commission's Central Securities Depositories Regulation.[1] Discussions have begun in the United States to follow suit, propelled in part by cost-benefit analysis research commissioned by the Depository Trust & Clearing Corporation in 2012.[2] The study, conducted by the Boston Consulting Group, identified 11 key enablers to achieving shortened settlement cycles, including the establishment of a "trade date" environment, or a market where same-day affirmation (SDA) is the norm.[3] |
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Posted: 7/28/2017 12:23:45 AM EDT
[#2]
Quote HistoryQuoted:
WOO HOO!
I am glad to see it, it's rare people have physical certs anymore. Though I actually saw some from 1993 in the office the other day from some obscure company. Thanks |
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Posted: 7/28/2017 7:57:07 AM EDT
[#3]
Quote HistoryQuoted:
So on that note, @midcap, I just might have recently found several physical certificates I was gifted--I think in the 90's--from some obscure company. How/where would I go about determining value, trading, and or digitizing them? Thanks Quote HistoryQuoted:
Quoted:
WOO HOO!
I am glad to see it, it's rare people have physical certs anymore. Though I actually saw some from 1993 in the office the other day from some obscure company. Thanks it may be a bearer stock cert or it may have a record somewhere. The process is fairly easy though to get it into the system. You could also post a pic, old stock cert pics are always cool |
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Posted: 7/30/2017 12:21:05 AM EDT
[#4]
This is the one I found. Believe they're still an active company. I also found certificates I have for Exxon. Received 1 shortly after birth as a gift, through splits it's now 8, though I do have that tracking through Computershare. 
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Posted: 7/31/2017 9:39:04 AM EDT
[#5]
that par value at the bottom should mean it's a preferred stock, though not always.
I am going to have to dig deeper with that CUSIP. Have you been getting any dividends from the company? |
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Posted: 7/31/2017 10:47:20 AM EDT
[#6]
No dividends that I am aware of, however i received it as a minor, with my grandmother (now deceased) listed as the custodian. The exxon, yes on the dividends.
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Posted: 8/4/2017 9:59:51 AM EDT
[#7]
Quote HistoryQuoted:
No dividends that I am aware of, however i received it as a minor, with my grandmother (now deceased) listed as the custodian. The exxon, yes on the dividends. |
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