The standard settlement cycle for certain securities in Canada and the United States will be shortened from trade date plus two business days (“T+2”) to trade date plus one business day (“T+1”) in May 2024. A shorter...more
On February 15, 2023, the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) issued Release No. 34-96930 (the “Adopting Release”), containing final rules (the “Final Rules”) that will shorten the standard...more
The Securities and Exchange Commission on February 9, 2022 proposed to: shorten the standard settlement cycle for most broker-dealer securities transactions from two business days following the trade date (T+2) to one...more
In the 1920s, Wall Street cleared and settled trades by the end of the day after the trade instruction (“T+1”). Over the years, that cycle bloated to T+4, to T+3 in 1993, and then T+2 in 2017. Last week, the SEC proposed to...more
The SEC has issued a rule proposal to reduce risks in the clearance and settlement of securities. Specifically, the proposed changes would...more