- day on which a bank is open for business, ordinarily most calendar days other than Sundays and legal public holidays.
- day that two related markets, for example, futures exchanges or stock exchanges in different cities, are open for business.
In general: hours when most businesses are in operation. Although individual working hours may differ, and particular firms may choose staggered schedules, the conventional business day is 9 A.M. to 5 P.M.
Finance: day when financial marketplaces are open for trading. For example, in figuring the settlement date on a regular-way securities transaction, Saturday, Sunday, and/or a legal holiday would not be counted.
In general: hours when most businesses are in operation. Although individual working hours may differ, and particular firms may choose staggered schedules, the conventional business day is 9 A.M. to 5 P.M.
Finance and investments: day when financial marketplaces are open for trading. In figuring the settlement date on a regular way securities transaction-which is the fifth business day after the trade date-Saturday, Sunday, and a legal holiday would not be counted, for example.
day on which the New York Stock Exchange is open for transactions; used in calculating accumulation unit values for variable dollar insurance products.
a standard day for conducting business. Excludes weekends and holidays.
Example: On Monday, July 1, Abel agrees to buy real estate. Closing will be 5 business days later, which is July 9 (Table 9).
| BUSINESS DAYS | ||
| Monday | July 1 | trade day |
| Tuesday | July 2 | 1 |
| Wednesday | July 3 | 2 |
| Thursday | July 4 | holiday |
| Friday | July 5 | 3 settlement day |
| TABLE 9 | ||
| BUSINESS DAYS | ||
| Business days | ||
| Tuesday | July 2 | 1 |
| Wednesday | July 3 | 2 |
| Thursday | July 4 | holiday |
| Friday | July 5 | 3 |
| Saturday | July 6 | weekend |
| Sunday | July 7 | weekend |
| Monday | July 8 | 4 |
| Tuesday | July 9 | 5 |
