T+1 – Industry T+1: Shortening the Settlement Cycle (T+1)
About the Effort
The Securities Industry and Financial Markets Association (SIFMA), the Investment Company Institute (ICI), and The Depository Trust & Clearing Corporation (DTCC) are collaborating on efforts to accelerate the U.S. securities settlement cycle from T+2 to T+1.
On February 15, 2023, the SEC adopted final requirements for a May 28, 2024, implementation date for the move to T+1 settlement for transactions in US cash equities, corporate debt, and unit investment trusts.
The T+1 Playbook, T+1 Test Approach, and other updated T+1 documentation provide a detailed approach to identifying the potential impacts, implementation activities, timelines, dependencies, and risk impacts that market participants should consider in order to successfully prepare for the transition to a T+1 Settlement Cycle on May 28, 2024.
Register for Accelerating to T+1 Events here:
DTCC T+1 Test Approach: Detailed Testing Framework