Buyers and sellers can negotiate settlement periods; however, standard time periods are usually used. For U.S. Treasury and agency debt securities, the customary settlement time, called regular way settlement, is the next business day. For municipal and corporate debt securities, the customary settlement period, often called corporate settlement, is three days. See net settlement and settlement.

Next market day after trade date. US term.

In the United States, settlement is on the next market day after the trade date.

Regulatory surplus Relative PE