When will the settlement cycle change from T+2 to T+1 occur?

For US products the Securities and Exchange Commission (SEC) adopted a final rule to shorten the standard settlement cycle for most broker-dealer transactions from two business days (T+2) to one (T+1) after the trade date, effective trade date (Tuesday) May 28, 2024.

For Canadian and Mexican products, the Canadian Capital Markets Association (CCMA) along with the Mexico’s Equities CCP, Contraparte Central de Valores (CCV) and the Mexican Association of Brokerage Firms (AMIB), followed suit passing rules to convert from T+2 to T+1 over the same weekend. The first effective trade date for T+1 in these venues will be (Monday) May 27, 2024; one day earlier than the US (the Monday is a US holiday).

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