Your client calls you with a market order to purchase 500 shares of the stock of Oracle and asks when payment will be due. If today is Wednesday, September 15^th, you inform the client that payment is due on

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If your client places an order to purchase 500 shares of Oracle on the open market on Wednesday, September 15^th, payment will be due on Monday, September 20^th. The settlement date for stock transactions is T + 3, which means the third business day after the trade. Saturday is not a business day.

Your Client Calls You with a Market Order to Purchase