What is the official date for owning a stock after the trade?

Discussion in 'Trading' started by emk662, Jan 3, 2009.

  1. emk662


    Friends, please help me on two questions as I am really confused.

    1. If I make I trade today to buy a stock, do I officially own the stock at the end of today (record day), or 3 business days later (settlement day)?

    2. If I short sell a stock, is that the same?