United States:
Federal Register: SEC Adopts Shortened Settlement Cycle
07 April 2017
Cadwalader, Wickersham & Taft LLP
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The SEC adopted an amendment to
Exchange Act Rule 15c6-1 that shortens the standard settlement
cycle for securities transactions from three business days after
the trade date (T+3) to two business days (T+2).
As
previously discussed, the primary purpose of the rule change is
to (i) improve capital efficiency, (ii) reduce risk, and (iii)
provide for a coordinated and expeditious transition to a shortened
standard settlement cycle for market participants.
The final rule became effective on March 30, 2017, and the
compliance deadline is September 5, 2017.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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