For T+1 and T+2 settled orders, settlement date may be deferred when there is a holiday after trading day.
Detailed rules are:
If either transfer to currency or transfer from currency or USD has a 'holiday' on the target settlement date, settlement is deferred until the next valid business day for all currencies.
For example, 2024.8.9 is a SGD holiday, if client makes a conversion which is T+2 settled, then it will be settled on 8.12, because 8.9 is SGD holiday, 8.10 and 8.11 are weekends.
Intervening holidays (that is a holiday between trade date and the standard 2 days later) for the transfer to currency and transfer from currency, also defer settlement dates.
For example, 2024.9.2 is a USD holiday. If the client makes a conversion which is T+2 settled, then it will be settled on 9.4, because 8.31 and 9.1 are weekends, 9.2 is USD holiday.
