What do you mean by 1.T day redemption?
T day refers to the trading day, that is, the normal trading day of Shanghai Stock Exchange and Shenzhen Stock Exchange. In wealth management products, T-day refers to the working day of purchase, conversion, redemption or other business applications.
Generally, the calculation of T-day must meet two conditions at the same time:
1, trading days except weekends and legal holidays;
2. Take the closing time of the stock market as the boundary, that is, before the trading day 15:00.
T+N day refers to the nth trading day after T day, such as T+ 1 day, which is the next trading day after T day.
Example:
Investors submit their redemption applications before Thursday 15:00, so T is Thursday. After the redemption of fund products on T day, the fund company will confirm the redemption share on T+ 1 day, that is, Friday.
Investors submit their redemption applications after Thursday 15:00, so even if Friday is T-day, the fund company will not confirm the redemption share until next Monday (T+ 1), because the weekend is not a trading day.
2. What does D Day mean?
Corresponding to T-day is D-day, and D refers to natural day, including weekends and legal holidays. The same product may adopt different calculation methods on different dates.
Take the fund as an example. The confirmation date and arrival date of fund redemption shall be calculated as T-day. Redemption share is not confirmed on weekends and legal holidays, and redemption time in transit is not calculated.
However, the holding time of the fund is calculated on D day. For example, if the subscription share is confirmed on Monday and the redemption share is confirmed on Monday, then the fund will be held for 7 days (Monday to Sunday), including Saturday and Sunday.
The above content about what T-day redemption means, I hope it will help everyone. Warm reminder, financial management is risky and investment needs to be cautious.