Whoever is the CRT holder of record at the beginning of the calendar month will receive the distribution payable later that month, typically around the 25th.
To elaborate, for any CRT where a trade is completed before 12:00:01 am on the 1st day of the month, the next distribution, typically around the 25th of the month, will go to the holder of the CRT at 12:00:01 am on the 1st day of the month, regardless of trading activity between the 1st and the day of the distribution for that month.
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