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Be ready to invest: Add money to your accounts

Trades of Vanguard ETFs and other brokerage products, such as stocks and bonds, settle through a money market settlement fund.

POINTS TO KNOW

  • Plan ahead so you'll have assets in your money market settlement fund whenever you're ready to place trades.
  • Trades for different products settle at different times. See the chart below.
  • Your Vanguard Brokerage Account gives you increased investment flexibility.

The gatekeeper to trading

The money market settlement fund plays a major role in your trades of brokerage products, including Vanguard ETFs®. Get to know how it works.

Put money in your settlement fund

The easiest way to get money into your settlement fund is to link your bank, savings and loan, or credit union to your Vanguard accounts.

Trading on margin

Margin investing has many benefits if you know what you're doing. Just don't ignore the risks.

When do trades settle?


SECURITY TYPE

Vanguard mutual funds

SETTLEMENT DATE

First business day after trade date


SECURITY TYPE

Vanguard ETFs & ETFs from other companies

SETTLEMENT DATE

Second business day after trade date


SECURITY TYPE

Funds from other companies

SETTLEMENT DATE

First business day (certain funds can take up to 5 business days) after trade date


SECURITY TYPE

Domestic stocks, corporate bonds & municipal bonds

SETTLEMENT DATE

Second business day after trade date


SECURITY TYPE

CDs on the secondary market

SETTLEMENT DATE

Second business day after trade date


SECURITY TYPE

Treasuries on the secondary market

SETTLEMENT DATE

First business day after trade date


SECURITY TYPE

Listed options

SETTLEMENT DATE

First business day after trade date


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REFERENCE CONTENT

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Settlement fund

A money market mutual fund that holds the money you use to buy securities, as well as the proceeds whenever you sell.

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Mutual fund

A type of investment that pools shareholder money and invests it in a variety of securities. Each investor owns shares of the fund and can buy or sell these shares at any time. Mutual funds are typically more diversified, low-cost, and convenient than investing in individual securities, and they're professionally managed.

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ETF (exchange-traded fund)

A type of investment with characteristics of both mutual funds and individual stocks. ETFs are professionally managed and typically diversified, like mutual funds, but they can be bought and sold at any point during the day using straightforward or sophisticated strategies.

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Stock

An investment that represents part ownership in a corporation. Each share of stock is a proportional stake in the corporation's assets and profits.

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CD (certificate of deposit)

An insured, interest-bearing deposit that requires the depositor to keep the money invested for a specific period of time or face penalties. Brokered CDs can be traded on the secondary market.

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Bond

A loan made to a corporation or government in exchange for regular interest payments. The bond issuer agrees to pay back the loan by a specific date. Bonds can be traded on the secondary market.

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Trade date

The actual date on which shares are purchased or sold.

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When do trades settle?

The chart shows the security type and settlement date of investments in your Vanguard Brokerage Account.