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On 5 September 2017, the securities industry successfully implemented an amended rule adopted by the SEC last March that shortens the standard settlement cycle for most broker-dealer securities transactions...
On 5 September 2017, the securities industry successfully
implemented an amended rule adopted by the SEC last March that
shortens the standard settlement cycle for most broker-dealer
securities transactions by one business day, to two business days
following the trade date, thus bringing the U.S. settlement cycle
in line with European markets.
As mentioned in our Q1 2017 Memorandum, the amended rule is
aimed at enhancing efficiency, preventing market and liquidity risk
arising from unsettled securities trades and ensuring a
co-ordinated and expeditious transition by market participants to a
shortened standard settlement cycle.
The SEC's statement on T+2 implementation is available
at:
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about your specific circumstances.