T+

Definition:

Abbreviation used in a securities transaction to refer to the settlement date by using the transaction date plus however many days taken to settle (plus one, plus two, plus three, etc.). According to an SEC rule, the standard settlement cycle for most securities transactions is T+1 although the rule retains an “override provision,” which provides some flexibility by permitting parties to a trade to agree that the settlement date may be later than T+1, provided that the agreement is express and reached at the time of the transaction.

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