A business day typically refers to the hours when most businesses are in operation, commonly from 9 A.M. to 5 P.M. In finance, a business day is defined as a day when financial markets are open for trading.
The term 'Settlement Date' refers to the specific date on which a transaction is finalized and the respective assets are transferred between the buyer and the seller. This term is relevant in various domains such as real estate and securities trading.
The day on which a security or commodity future trade actually takes place. The settlement date usually follows the trade date by three business days but can vary depending on the transaction and method of delivery used.
