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When trading with cash in a brokerage account, it may not be clear when you will have full access to the cash after selling a stock. The settlement date, which is two trading days after the transaction date, is when the buyer gets the shares and the seller gets the money. This means that if you sell a stock on Monday, you won't receive the cash until Wednesday. Understanding this two-day lag time between transaction and settlement can help you differentiate between settled and unsettled trades.