The US has announced a transition to a shorter T+1 (trade plus one day) settlement cycle. The US Securities and Exchange Commission (SEC) decided to shorten its settlement cycle to one day by May 28, 2024.
The SEC announcement comes barely weeks after India transitioned all listed stocks to a T+1 cycle, from the earlier T+2.
“The final rule is designed to benefit investors and reduce the credit, market, and liquidity risks in securities transactions faced by market participants,” said SEC in a statement on Wednesday.
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