Extensions of Time Filing Schedule
Overview
FINRA Rule 4230(a) requires clearing firms for which FINRA is the designated examining authority pursuant to SEA Rule 17d-1 to submit requests for extensions of time as contemplated by Regulation T of the Board of Governors of the Federal Reserve System1 ("Regulation T") and SEA Rule 15c3-3(n)2 to FINRA for approval. Firms are also required to file with FINRA their request for extensions of time to satisfy margin deficiencies pursuant to FINRA Rule 4210.3 FINRA has implemented an automated system for the receipt and processing of such extension of time requests (the REX system). When incorrect dates are submitted in connection with an extension request, the REX system may deny the request, resulting in firms having to resubmit the request with corrected dates. To assist firms in determining the correct filing dates around holidays, FINRA is providing the schedule below. Firms should use the dates noted in this schedule when requesting extensions of time on dates prior to and after any holiday during which exchanges or banks are closed. Additionally, please download the full extension calendar, covering all business days (not only the holidays) for extensions related to Regulation T, SEA Rule 15c3-3(m), FINRA Rule 4210(f)(6), (g)(10)(D), and, starting on May 30, 2024, FINRA Rule 4210(e)(2)(H)(ii)d.3.
Holiday Calendar
Holiday calendar for Regulation T extension requests for the 4th quarter of 2023 and 2024.
The securities exchanges are generally open for trading on Columbus Day and Veterans Day, which are considered a business day under Regulation T of the Federal Reserve Board, SEA Rule 15c3-3 and FINRA Rule 4210. However, Columbus Day and Veterans Day are not settlement dates because banking institutions will be closed on these days.
| Securities Exchanges and Settlement Holidays* | Trade Date or Deficiency Date for Rule 4210 Extensions | Settlement Date | Regulation T Trade date + 4 business days prior to May 28th, 2024 Trade date + 3 business days otherwise |
|---|---|---|---|
|
Columbus Day* |
10/3/2023 |
10/5/2023 |
10/9/2023 |
|
10/4/2023 |
10/6/2023 |
10/10/2023 |
|
|
10/5/2023 |
10/10/2023 |
10/11/2023 |
|
|
10/6/2023 |
10/11/2023 |
10/12/2023 |
|
|
10/9/2023 |
10/11/2023 |
10/13/2023 |
|
|
Veterans Day (Not Observed) |
11/7/2023 |
11/9/2023 |
11/13/2023 |
|
11/8/2023 |
11/10/2023 |
11/14/2023 |
|
|
11/9/2023 |
11/13/2023 |
11/15/2023 |
|
|
11/10/2023 |
11/14/2023 |
11/16/2023 |
|
|
Thanksgiving |
11/17/2023 |
11/21/2023 |
11/24/2023 |
|
11/20/2023 |
11/22/2023 |
11/27/2023 |
|
|
11/21/2023 |
11/24/2023 |
11/28/2023 |
|
|
11/22/2023 |
11/27/2023 |
11/29/2023 |
|
|
Christmas |
12/19/2023 |
12/21/2023 |
12/26/2023 |
|
12/20/2023 |
12/22/2023 |
12/27/2023 |
|
|
12/21/2023 |
12/26/2023 |
12/28/2023 |
|
|
12/22/2023 |
12/27/2023 |
12/29/2023 |
|
|
New Year's Day |
12/26/2023 |
12/28/2023 |
1/2/2024 |
|
12/27/2023 |
12/29/2023 |
1/3/2024 |
|
|
12/28/2023 |
1/2/2024 |
1/4/2024 |
|
|
12/29/2023 |
1/3/2024 |
1/5/2024 |
|
|
Martin Luther King, Jr. Day |
1/9/2024 |
1/11/2024 |
1/16/2024 |
|
1/10/2024 |
1/12/2024 |
1/17/2024 |
|
|
1/11/2024 |
1/16/2024 |
1/18/2024 |
|
|
1/12/2024 |
1/17/2024 |
1/19/2024 |
|
|
President's Day |
2/13/2024 |
2/15/2024 |
2/20/2024 |
|
2/14/2024 |
2/16/2024 |
2/21/2024 |
|
|
2/15/2024 |
2/20/2024 |
2/22/2024 |
|
|
2/16/2024 |
2/21/2024 |
2/23/2024 |
|
|
Good Friday |
3/25/2024 |
3/27/2024 |
4/1/2024 |
|
3/26/2024 |
3/28/2024 |
4/2/2024 |
|
|
3/27/2024 |
4/1/2024 |
4/3/2024 |
|
|
3/28/2024 |
4/2/2024 |
4/4/2024 |
|
|
Memorial Day |
5/21/2024 |
5/23/2024 |
5/28/2024 |
|
5/22/2024 |
5/24/2024 |
5/29/2024 |
|
|
5/23/2024 |
5/28/2024 |
5/30/2024 |
|
|
T+2 Settlement Ends |
5/24/2024 |
5/29/2024 |
5/31/2024 |
|
T+1 Settlement Starts |
5/28/2024 |
5/29/2024 |
5/31/2024 |
|
Juneteenth |
6/14/2024 |
6/17/2024 |
6/20/2024 |
|
6/17/2024 |
6/18/2024 |
6/21/2024 |
|
|
6/18/2024 |
6/20/2024 |
6/24/2024 |
|
|
Independence Day |
7/1/2024 |
7/2/2024 |
7/5/2024 |
|
7/2/2024 |
7/3/2024 |
7/8/2024 |
|
|
7/3/2024 |
7/5/2024 |
7/9/2024 |
|
|
Labor Day |
8/28/2024 |
8/29/2024 |
9/3/2024 |
|
8/29/2024 |
8/30/2024 |
9/4/2024 |
|
|
8/30/2024 |
9/3/2024 |
9/5/2024 |
|
|
Columbus Day* |
10/9/2024 |
10/10/2024 |
10/14/2024 |
|
10/10/2024 |
10/11/2024 |
10/15/2024 |
|
|
10/11/2024 |
10/15/2024 |
10/16/2024 |
|
|
10/14/2024 |
10/15/2024 |
10/17/2024 |
|
|
Veterans Day* |
11/6/2024 |
11/7/2024 |
11/11/2024 |
|
11/7/2024 |
11/8/2024 |
11/12/2024 |
|
|
11/8/2024 |
11/12/2024 |
11/13/2024 |
|
|
11/11/2024 |
11/12/2024 |
11/14/2024 |
|
|
Thanksgiving |
11/25/2024 |
11/26/2024 |
11/29/2024 |
|
11/26/2024 |
11/27/2024 |
12/2/2024 |
|
|
11/27/2024 |
11/29/2024 |
12/3/2024 |
|
|
Christmas Day |
12/20/2024 |
12/23/2024 |
12/26/2024 |
|
12/23/2024 |
12/24/2024 |
12/27/2024 |
|
|
12/24/2024 |
12/26/2024 |
12/30/2024 |
|
|
New Year's Day |
12/27/2024 |
12/30/2024 |
1/2/2025 |
|
12/30/2024 |
12/31/2024 |
1/3/2025 |
|
|
12/31/2024 |
1/2/2025 |
1/6/2025 |
|
|
Martin Luther King, Jr. Day |
1/15/2025 |
1/16/2025 |
1/21/2025 |
|
1/16/2025 |
1/17/2025 |
1/22/2025 |
|
|
1/17/2025 |
1/21/2025 |
1/23/2025 |
|
|
*Bank holiday only, securities exchanges open, no settlement |
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Endnotes
1 As specified in Sections 220.4(d) and 220.8(b)(4) of Regulation T of the Federal Reserve Board, a broker-dealer must promptly cancel or otherwise liquidate a customer purchase transaction in a margin account or cash account if payment is not received within one payment period from the date of purchase or, pursuant to Section 220.4(c)(3) and 220.8(d)(1), apply to extend the time period specified. A payment period is defined in Regulation T to mean the number of business days in the standard securities settlement cycle in the United States, as defined in paragraph (a) of SEA Rule 15c6–1 (17 CFR 240.15c6–1(a)), plus two business days. The date by which firms must take action for “regular way” transactions effected on dates prior to and after a holiday when exchanges are closed is shown in the table under the column “Regulation T Extension Due Date.”
All SEA Rule 15c3-3 extension requests must be received on the due dates listed below.
(d)(2) – on the 30th calendar day after settlement date
(d)(3) – on the 45th calendar day after settlement date
(d)(4) – on the 2nd business day after the 30th calendar day from the date the segregation deficit occurred
(h) – on the 45th calendar day after settlement date
(m) – on the 10th business day after settlement date
These dates also apply to any securities traded on a foreign exchange. Firms must file SEA Rule 15c3-3 extensions on the appropriate dates regardless of the settlement cycle established by the foreign security market on which the security is traded.
2 SEA Rule15c3-3 requires firms to take prompt steps to obtain possession or control of securities pursuant to paragraph (m) through a buy-in procedure or otherwise, if securities are not received within ten business days from the settlement date of the sale, or, pursuant to paragraph (n), apply to extend the time period specified therein. The date by which firms must take such action for “regular way” transactions effected on dates prior to and after a holiday when exchanges are closed is shown in the table under the column “SEA Rule 15c3-3(m) Extension Due Date.”
3 See FINRA Rule 4210(f)(6), (g)(10)(D). and, effective on May 22, 2024, FINRA Rule 4210(e)(2)(H)(ii)d.3.