What is the difference between a trading holiday and a settlement holiday?

What is the difference between a trading holiday and a settlement holiday? 

Trading Holiday 

Settlement Holiday 

The stock exchange is closed and regular trading is not available. 

Trading may take place, but settlement is not processed on that day. 

Clients cannot buy or sell securities through the exchange. 

Settlement of securities and funds is carried out on the applicable next settlement day. 

Trading holidays are declared by the stock exchanges. 

Settlement holidays may arise due to bank holidays, clearing corporation closures, or as notified by the exchanges. 

Compare Holiday Types

Learn how trading and settlement holidays affect your transactions.

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