Equity options settlement
Quick question. I'm studying for the series 56 exam, and it has conflicting information on equity options settlement. One part of the book says that it's 3 business days after exercise while another part says it's 1 day after exercise. Which is correct?
Options settle T+1. 3 business days for share settled I believe - equities are T+3
http://www.sec.gov/investor/pubs/tplus3.htm
[quote=DebunkingMyths]Options settle T+1. 3 business days for share settled I believe - equities are T+3
http://www.sec.gov/investor/pubs/tplus3.htm[/quote]
Is it 1 business day after the options writer is assigned the notice of exercise? I know that it usually takes about 2 business days for a clearing firm to notify the assignment after the purchaser exercised the contract.
bump
Regular equities are T+3 Options are 1 day
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