Today, the Investment Company Institute (ICI), the Securities Industry and Financial Markets Association (SIFMA) and the DTCC issued the following statement regarding the transition to T+1:
“With the US T+1 settlement cycle for corporate bonds, municipal bonds and equity trading now in place, ICI, SIFMA and DTCC thank all stakeholders for their cooperation and support in the successful implementation of this historic change to US markets. There has been a tremendous amount of collaboration and hard work to make T+1 a reality.
Early indications following the implementation of T+1 are positive and we look forward to working closely with companies and key stakeholders in the coming weeks to monitor and address any issues that may arise.
Shortening the settlement cycle to T+1 promises to deliver greater operational efficiency and significantly lower margin requirements, while reducing risk to the financial system. With T+1 now live, we have collectively begun to achieve these benefits together.”