Are Columbus Day / Veterans Day market holidays? No, the stock market is open for regular trading hours on these two holidays. However, it is a federal bank holiday, which affects cash and trade settlement timelines.

How does Columbus Day / Veterans Day affect trade settlements? While you can trade normally on these holidays, it is not considered a settlement day because banks are closed. Since moving to T+1 settlement in May 2024, most trades settle the next business day, but bank holidays affect this timeline as follows:

Example 1 - Selling stocks and withdrawing:

• If you sell stocks on Friday, prior to Columbus Day, your proceeds usually would typically settle on Monday, but due to Columbus Day being a bank holiday, settlement moves to Tuesday 

Example 2 - New deposits:

• If you deposit funds on Friday, prior to Columbus Day
• You have access to up to $1,000 of the deposit (if over) until the following Tuesday 
• Columbus Day (Monday) does not count as a business day for settlement purposes, which is typically when the remainder of a deposit over $1K becomes available

Key Points to Remember:

• You can trade normally on Columbus Day and Veterans Day
• While markets are open, banks are closed, so no settlements occur
• These holidays delay settlement processes by one business day
• The holiday does not count toward the 5-business-day deposit hold period on deposits
• Regular settlement processing resumes on the next business day