The Securities and Exchange Commission (SEC) adopted rule amendments to shorten the standard settlement cycle for US stock from “T+2” to “T+1”.
When Will “T+1” start? The new “T+1” settlement cycle will apply to all applicable securities transactions occurring on or after May 28, 2024.
Which Securities Does the New “T+1” Settlement Cycle Impact? The “T+1” settlement cycle will apply to the same securities transactions covered by the “T+2” settlement cycle. These include transactions for stocks, bonds, exchange-traded funds, etc.
What Will Change? Similarly, if you are buying securities subject to the “T+1” settlement cycle, you may need to pay for your securities transactions one business day earlier. If you have a margin account, the related provisions of your margin agreement will be updated accordantly.
For details, please refer to the announcement from the U.S. Securities and Exchange Commission
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