trade

A verbal (or electronic) transaction involving one party buying a security from another party. Once a trade is consummated, it is considered "done" or final. Settlement occurs 1-5 business days later.

Transaction that adds (buy or short sell) or removes a lot (sell or buy-to-cover) to or from open investments. Trade date is the date on which the trade occurs. Settlement date is the date by which the account must be debit or credited for results of the trade and it is normally three business days after trade date.