This industry-wide, multi-year initiative has not been driven by regulatory mandate but rather led and coordinated by market participants, demonstrating the industry's ongoing commitment to continual improvements in the operation of our capital markets.
Shortening the settlement cycle is expected to yield benefits for the industry and market participants including reduced credit and counterparty risk, operational process improvements, cash deployment efficiencies, increased market liquidity, lower collateral requirements, and enhanced global settlement harmonization.
With industry readiness and testing work well underway throughout 2016, the T+2 initiative now turns to testing and preparing for implementation. Several links under the "Industry Documentation" section provide more detail around these efforts.
We welcome any comments or questions and encourage you to view our Frequently Asked Questions (FAQs). If you do not see an answer to your question in the FAQs, please submit your questions here.
