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T+2 Test Approach: DTCC’s High-Level Testing Framework

The financial services industry, in coordination with regulators, is planning to shorten the settlement cycle for equities, corporate bonds, municipal bonds, unit investment trusts, and financial instruments comprised of these security types (e.g. ADRs, ETFs), from the current trade date plus three business days (T+3) to trade date plus two business days (T+2) on September 5, 2017.

For those firms that opt to participate in industrywide T+2 testing, this document specifically outlines the testing requirements from NSCC, DTC and Omgeo for impacted organizations and instruments.

The testing assumptions, what is in or out of scope, and other details are provided in this document to help firms develop their own test plans and assess preparedness for a shortened settlement cycle.

To view the complete white paper, please click here.