The SEC announced on February 15, 2023 that the transition to T+1 would take place on May 28, 2024, before which the industry and all market participants must make and test the necessary operational changes and technological upgrades required to settle trades in one day. Updated March 2023.
T+1 Transition and Readiness
T+1 Transition
and Readiness
The securities industry has been evaluating an accelerated settlement cycle, from the current two-day (T+2) cycle to a one-day (T+1) cycle.
On February 15, 2023 The Securities and Exchange Commission (SEC) announced that the deadline for transition to T+1 will take place on May 28, 2024. This means that before this date all industry and market participants must make and test the necessary operational changes and technological upgrades required to settle trades in one day.
This acceleration of the settlement cycle could have a significant impact on the capital markets and supporting market infrastructure, particularly for settlement functions and technologies in the U.S. and Canada, with other jurisdictions anticipated to also be drawn into scope.
Acceleration of Settlement to T+1
Frequently Asked Questions
Learn more about T+1 and the key changes that are happening in the markets, including answers to many common questions our clients and counterparties are asking. Updated August 2023.
Key Insights
Join BNY Mellon's Christos Ekonomidis and other industry experts for a T+1 Webinar hosted by Deloitte on Wednesday July 19, or watch the replay if you can't attend live. The discussion will include the transition of T+1, testing participation, client outreach and readiness activities for firms.
Listen to Steve Wager, Head of Global Markets Management at BNY Mellon and chair of the Americas focus committee within the Association of Global Custodians on his perspective on the anticipated move to T+1.
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