The Road to T+1
As at February 15th 2023, the US Securities and Exchange Commission (SEC) has committed to a May 2024 implementation date for accelerating the trade settlement cycle to T+1.
Previously: On February 24th, 2022, the SEC published in the Federal Register (Vol. 87, No.37) its official rule change proposal for a shortened US securities transaction settlement standard of T+1 from the existing T+2 cycle.
Conversion to T+1 will have significant impacts on the participants, processes, and platforms involved with pre/post trade lifecycle activities. It is essential that firms do not underestimate the challenges that lie ahead of them to successfully transition to a T+1 settlement cycle.
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