BNY Mellon experts take a deeper dive, highlighting observations and insights throughout the various phases of this global transition.
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 United States and Canada, with other jurisdictions anticipated to also be drawn into scope.
T+1 Information Series
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 December 2023.
Key Insights
What does T+1 mean for FX trading and securities lending? Replay our webcast featuring experts from BNY Mellon and the Value Exchange. We share industry perspectives, discuss the operational challenges and talk through some potential fixes.
In October 2023, BNY Mellon came together with the Depository Trust and Clearing Corporation (DTCC) to look ahead at the impacts of T+1 to clients across our custody and foreign exchange businesses.
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