Closing Date

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What is a Closing Date?

Closing date, or settlement date, refers to the date you finalize a trade. At this stage, the buyer has to pay the seller and the seller transfers the ownership of the asset to the new buyer – in real estate, this is typically the house or property being purchased where the title is transferred or when the mortgage note closes. When it comes to the closing or settlement date of bonds and stocks, it takes around two business days.

Similarly, foreign exchanges also take around two business days to close “after” the date of the transaction. Contrary to misguided perception, it is vital to understand that the closing or settlement date affirms the transfer of legal ownership rather than the trade date.

Remember that federal holidays and weekends can, in fact, impact the trade and closing dates. Major holidays like Easter and Christmas often increase the gap between closing and transaction dates. Whether it’s the real estate or foreign exchange market, the closing date has to be valid and compatible for involved parties.

Closing Date Examples

Examples of closing or settlement date include:

  • Example 1: T+2
  • Example 2: T+3
  • Example 3: T+5

Here is a comprehensive article about the closing date.

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