Common use of Transaction Dates Clause in Contracts

Transaction Dates. All securities transactions are reflected on a trade date basis. Settlement of trades will normally occur in two (2) business days unless stated differently on your trade confirmation. Title to securities sold to you where Stifel has acted as principal shall remain with Stifel until the entire purchase price is received or until the settlement date, whichever is later.

Transaction Dates. All securities transactions are reflected on a trade date basis. Settlement of trades will normally occur in two three (23) business days unless stated differently on your trade confirmation. Title to securities sold to you where Stifel has acted as principal shall remain with Stifel until the entire purchase pur- chase price is received or until the settlement date, whichever is later.