If you’ve hated being forced to wait three days after selling a well-performing (or losing) investment to get your cash, you will likely get it a bit faster now.
As of Tuesday, most broker-dealer securities transactions — i.e., stocks, corporate and municipal bonds, and exchange-traded funds — must settle within two business days instead of three. This means if you sell a stock on Monday, the proceeds will be available on Wednesday. It also means if you execute a stock buy, you need to fund the purchase within two business days.
While many mutual funds already settle within one business day, the rule change generally will apply to those that were on a three-day schedule. Treasury bonds also already settled in one day.