SEC Approves Move to T+2 Standard Settlement Cycle in September 2017
On March 22, the SEC approved a rule amendment to shorten the standard settlement cycle for most broker-dealer securities transactions to two business days after the trade date (T+2) from the current three-business-day cycle (T+3).
The compliance date for broker-dealers to implement the rule change will be September 5, 2017 (the Tuesday following Labor Day).
This compliance date is consistent with the target date for industry implementation chosen by the Industry Steering Committee, a working group of market participants that has been facilitating the industry’s planning for the transition to T+2.
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