question on time/sales condition

Discussion in 'Order Execution' started by Svenwulf, May 17, 2007.

  1. Svenwulf


    i watch time and sales for my current positions. today i noticed a trade/ quote condition titled "next day." it kinda has me scratching my head, any experience with this would be appreciated.
  2. Next Day probably refers to the trade's settlement. The cash on normal trades moves on T + 3 business days. In this trade's case, the cash will move on T + 1, the "next day" of the trade.

    "'I'd rather be rich than right."" --MyOwnBoss
  3. Svenwulf


    thanks myownboss. i understand t+3 and settlement, i just thought it was odd.
  4. Daal


    what did the traders of that trade do to get it tol be settled faster