T+3

In financial markets T+3 is a shorthand for trade date plus three days indicating when securities transactions must be settled. T+3 means that when a security is purchased, payment and the security's certificate must change hands no later than three business days after the trade is executed.

History

During the 1700s the Amsterdam stock exchange had close links with the London stock exchange and they would often list each other's stocks. To clear the trades, time was required for the physical stock certificate or cash to move from Amsterdam to London and back. This led to standard settlement period of 14 days which was the time it usually took for a courier to make the journey on horseback and by ship. Most exchanges continued to use the same model over the next few hundred years. With the advent of new technology in the 1970s and 1980s there was a move to reduce settlement times and settlement dates in most exchanges reduced to five days known as T+5 then to three days (known as T+3 or Trade date plus three days).

T3

T3 or T-3 may refer to:

Medicine

Vehicles and transportation

Technician third grade

Technician Third Grade (officially abbreviated as T/3) was one of three United States Army technician ranks established on January 8, 1942 during World War II. Those who held this rank were often addressed as Staff Sergeant, as they shared the same pay grade, but technicians did not have the authority to give commands as a staff sergeant would. Initially they shared the same insignia but on September 4, 1942, the three technician ranks were distinguished by a block "T" imprinted below the standard chevrons. Unofficial insignia using a technical specialty symbol instead of the T were used in some units.

See also

References