16 April 2024 - The deadline to the T+1 settlement cycle change is now fast approaching, with just a month to go until the switch which takes place on May 28th for the US, and on May 27th for Canada and Mexico, which are aligned with the US. The decision by the respective regulator...
Canada Follows U.S. Lead on T+1.Reports the settlement cycle of the Canadian Capital Markets Association. Risk associated with capital market business; Reduction of manual intervention in trade processing; Improvements of retail processing.Kentouris...
North American markets are moving to T+1 settlement leaving Europe and the rest of the world behind. Read our comprehensive analysis of what this could mean for global investors.
Since the US and Canada announced that they will transition from a T+2 settlement cycle to T+1 in 2024, some within the industry are already busy petitioning for T+0 to be considered. While settlement compression could unlock a number of strategic and op
The standard settlement cycle for most US broker-dealer transactions in securities will be reduced from two business days after a trade, T+2, to T+1 on Tuesday 28 May 2024. Canada and Mexico are moving on the previous day, the U.S. Memorial Day holiday. In addition to affecting settlem...
Earlier this year the Canadian Capital Markets Association (CCMA)announced a change to shorten the securities settlement cyclefrom two business days after the trade date (T+2) to one business day (T+1), effective Monday, May 27, 2024. The decision is in sync with theUS Securities and Exch...
(T+1) (15c6-1(a)). Additionally, security-based swaps are now excluded from the settlement cycle requirements under Rule 15c6-1(a) (15c6-1(b)). Lastly, the settlement cycle for firm commitment underwritten offerings for securities that are priced after 4:30 p.m. ET was shortened ...
exempted or excluded from the standard settlement cycle. However, the adopted amendment will for the first time completely exclude security-based swaps from the settlement cycle requirement under Rule 15c6-1, noting the innate differences between securities-based swaps from other securities transactions....
Most people imagine that removing a day from the settlement cycle will reduce post-trade processing times by 50%. But, this is not the case. Instead of the 12 hours firms have to process trades under T+2,theAssociation for Financial Markets in Europe (AFME)this will drop to just two ho...
Source: ESMA assessment of the shortening of the settlement cycle in the European Union ESMA has recommended 11 October 2027 as an optimal date for the transition to T+1 in the EU and a three-phase approach to its operationalisation (see Figure 1). However, the Task Force has not recommend...