Shortening the 结算 Cycle

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的 Securities Industry and Financial Markets Association (SIFMA), the Investment Company Institute (这里), and 的 Depository Trust & 清算 Corporation (存) are collaborating on efforts to accelerate the U.S. securities settlement cycle from T+2 to T+1.

2月15日, 2023, the SEC adopted final requirements for a May 28, 2024, implementation date for the move to T+1 settlement for transactions in US cash equities, 公司债, and unit investment trusts.

的 T + 1剧本, T+1 Test Approach, and other updated T+1 documentation provide a detailed approach to identifying the potential impacts, implementation activities, 时间线, 依赖关系, and risk impacts that market participants should consider in order to successfully prepare for the transition to a T+1 结算 Cycle on May 28, 2024.

T+1 Conversion Guide

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Updated Testing Document

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的 Key to T+1 Success: 90% Affirmation by 9 PM ET on Trade Date

Download the report to better understand the importance of affirmation, insights on the current state affirmation rates across the industry and specific actions we can all can take now to improve upon them prior to T+1.

的 Key to T+1 Success

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Understanding the Role of Affirmation

对你.S. institutional trades, the affirmation process takes place before the settlement instruction is sent to the depository. 然而，在非美国.S. 市场, affirmations are generally embedded within the depository system - in what is known as pre-settlement matching between the local broker and the local custodian. To meet the industry goal for same-day affirmation, it is critical that we are all on the same page about the role of affirmation in U.S. Post Trade Processing.