2006-08-09 09:23:54 · 4 answers · asked by Matty 1 in Business & Finance ➔ Investing
Yes, and for the price stated in the confirmation, less the stated commission.
2006-08-09 09:30:25 · answer #1 · answered by cyclist 3 · 0⤊ 0⤋
It means you have agreed to purchase the stock and someone has agreed to sell it to you -- but it is binding. The order still needs to settle before you actually pay for it and receive the stock. Settlement is usually in three days.
This is only an important distinction if there is a dividend payment before settlement. In that case, it goes to the old owner.
2006-08-09 16:29:27 · answer #2 · answered by Ranto 7 · 0⤊ 0⤋
Taranto is correct. Dividends are declared for enough in advance that the sale price near the payment date usually reflects the amount of the dividend.
2006-08-09 20:51:35 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
No... you must wait until the settlement date. Things can happen in those three days, so you really don't own it until then. The brokerage firms will NOT allow you to sell it during those three days, so that's something to keep in mind... you just don't own it yet. (I'm a former stockbroker.)
2006-08-10 23:04:17 · answer #4 · answered by Mike S 7 · 0⤊ 0⤋