Is Veterans Day a market holiday? No, the stock market is open for regular trading hours on Veterans Day (Monday, November 11, 2024). However, it is a federal bank holiday, which affects settlement timelines.
How does Veterans Day affect trade settlements? While you can trade normally on Veterans Day, 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:
Example 1 - Selling stocks and withdrawing:
- If you sell stocks on Friday, November 8, your proceeds usually would settle on Monday, November 11, but due to Veterans Day being a bank holiday, settlement moves to Tuesday, November 12
- Funds become available for withdrawal on Tuesday, November 12, even though you can trade on Monday
Example 2 - New deposits:
- If you deposit funds on Friday, November 8, the 5-business-day deposit hold period starts counting from the next business day (Tuesday the 12th)
- Veterans Day (Monday) does not count as a business day for settlement purposes
- Funds deposited on Friday would become available for withdrawal on Tuesday, November 19
Key Points to Remember:
- You can trade normally on Veterans Day
- While markets are open, banks are closed, so no settlements occur
- Veterans Day delays settlement processes by one business day
- The holiday does not count toward the 5-business-day deposit hold period
- Regular settlement processing resumes on Tuesday, November 12