What does 'T+n' mean in stock market?
What does 'T+n' mean in stock market?
-Moomoo News TeamSource: Investopedia
來源：Investopedia
by Linear
按線性
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Overview
概述
In this article, we will introduce:
在本文中，我們將介紹：
What do 'T' and 'T+n' mean?
‘T’和‘T+n’是什麼意思？
What are Trade Date and Settlement Date?
什麼是交易日期和結算日期？
Why delay actual settlement?
為什麼要推遲實際解決呢？
When do you actually own the stock or get the money?
你什麼時候真正擁有股票或拿到錢？
What do 'T' and 'T+n' mean?
‘T’和‘T+n’是什麼意思？
Whenever you buy or sell a stock, bond, exchange traded fund, or mutual fund, there are two important dates to understand: the trade date and the settlement date. 'T' is the trade date. The abbreviations T+1, T+2, and T+3 refer to the settlement dates of security transactions that occur on a trade date plus one day, plus two days, and plus three days, respectively.
每當你買賣股票、債券、交易所交易基金(ETF)或共同基金時，有兩個重要的日期需要了解：交易日期和結算日期。‘t’是交易日期。縮寫T+1、T+2、T+3分別指發生在交易日加1天、加2天、加3天的證券交易結算日。
What are Trade Date and Settlement Date?
什麼是交易日期和結算日期？
Trade Date
交易日期
'T' refers to the trade date. The trade date is the month, day, and year that an order is executed in the market. The trade date is therefore when an order to purchase, sell, or otherwise transact in a security is performed. A trade date is determined for all types of investment security transactions in the market.
‘t’指的是交易日期。交易日期是在市場上執行訂單的月份、日期和年份。因此，交易日期是執行買入、賣出或以其他方式交易證券的訂單的時候。為市場上所有類型的投資證券交易確定交易日期。
Settlement Date
結算日
The settlement date is the date when a trade is final, and the buyer must make payment to the seller while the seller delivers the assets to the buyer.
結算日是交易結束的日期，買方必須在賣方將資產交付給買方的同時向賣方付款。
The settlement date for stocks and bonds is usually two business days after the execution date (T+2).
For government securities and options, it's the next business day (T+1).
In spot foreign exchange (FX), the date is two business days after the transaction date.
的結算日期股票和債券通常是執行日期(T+2)後的兩個工作日。
為政府證券和期權，這是下一個工作日(T+1)。
就地外匯(FX)，日期是交易日期後的兩個工作日。
Why delay actual settlement?
為什麼要推遲實際解決呢？
In the past, security transactions were done manually rather than electronically. Investors would wait for the delivery of a particular security, which was in actual certificate form, and payment happened upon receiving the certificate. Since delivery times could vary and prices always fluctuate, market regulators set a period of time in which securities and cash must be delivered.
在過去，證券交易是人工完成的，而不是電子交易。投資者將等待實際證書形式的特定證券的交付，並在收到證書後付款。由於交割時間可能不同，價格總是波動的，市場監管機構設定了證券和現金必須交割的時間段。
When do you actually own the stock or get the money?
你什麼時候真正擁有股票或拿到錢？
If you buy (or sell) a security with a T+2 settlement on Monday, and we assume there are no holidays during the week, the settlement date will be Wednesday, not Tuesday. The 'T' or transaction date is counted as a separate day.
Not every security will have the same settlement periods. All stocks and most mutual funds are currently T+2. However, bonds and some money market funds will vary between T+1, T+2, and T+3.
如果你在週一買入(或賣出)T+2結算的證券，我們假設一週內沒有假期，結算日期將是週三，而不是週二。“T”或交易日期被視為單獨的一天。
並不是每種證券都有相同的結算期。所有的股票和大多數共同基金目前都是T+2。然而，債券和一些貨幣市場基金將在T+1，T+2和T+3之間變化。
