Settling Down: How the US Finally Embraced T+2

The long journey to T+2 finally comes to an end on September 5, 20 years after the US financial industry last shortened the settlement cycle.


Nothing good happens between trading day and settlement day. For years, that has been the mantra of the financial services industry. Keeping risk at a minimum while waiting for a security to be cleared has been an operational and technical challenge, but despite this, it has taken two decades for the industry to shorten the settlement cycle.

T+2, or the settlement of a trade two days after execution, is ready to be implemented on September 5, 20 years after the industry last shortened the cycle

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