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Trade Date is a securities industry term describing the trading day a trade (bonds, equities, foreign exchange, commodities etc) was conducted. Trade Date does not necessarily equal the actual calendar date because in many cases (differing from market to market and asset to asset and exchange or OTC) a trade done very early or very late falls on the previous or following trade date.
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|Campbell R. Harvey's Hypertextual Finance Dictionary||Download this dictionary|
In an interest rate swap, the date that the counterparties commit to the swap. Also, the date on which a trade occurs. Trades generally settle (are paid for) 1-5 business days after a trade date. With stocks, settlement is generally 3 business days after the trade. For equities, the day on which a security or a commodity future trade actually takes place. The settlement date usually follows the trade date by five business days, but varies depending on the transaction and method of delivery used.
|European Central Bank Dictionary||Download this dictionary|
trade date (T)
The date on which a trade (i.e. an agreement on a financial transaction between two counterparties) is struck. The trade date might coincide with the settlement date for the transaction (same-day settlement) or precede the settlement date by a specified number of business days (the settlement date is specified as T + the settlement lag).
Copyright © 2006, European Central Bank, Frankfurt am Main, Germany. This information may be obtained free of charge through the ECB's website.
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