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.

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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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