Definition of "Delivery Date"

Currently, it is the fifth business day following a "regular way" transaction on the New York Stock Exchange in which money and securities need to be exchanged. However, on June 1, 1995, new industry regulations will be in effect. The regulation change stipulates that the delivery date for regular way transactions--for most securities--will occur on the third business day following the transaction. Moreover, in regard to other types of securities, the term regular way delivery does not necessarily mean three business days following the transaction. Government securities, for instance, have a regular way delivery on the next business day following the transaction.