A transaction date is the recorded date and time in which an agreement of trade has been made. This is not necessarily the date of when the transaction is settled. Many companies store their transaction dates in their Master Data Management, a software system that stores and logs all transaction data, for various things such as records and tracking. It may also record more than just the date of transaction but also the pending, authorised or declined statuses of the transactions.
When bonds, stocks, and commodities are commonly bought, the date of transaction is called a trade date. After the transfer of payment is approved, it is known as a settlement date.
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