Settlement Convention
Definition
Settlement Convention. A convention employed to determine the closing date (from the stated settlement date) in the process of settling a transaction on which securities or interests in securities are delivered, usually against (in simultaneous exchange for) payment of some consideration
This is usually stated in the form 'T+n' where n is the number of business days from the specified settlement date (T). There are no date roll rules,the T+n simply refers to the next available business days and is specified as a whole number.
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