Financial Services Industry Commends SEC On Final Rule To Facilitate A Shorter Settlement Cycle In U.S. - A Two-Day Settlement Cycle Will Yield Numerous Benefits For Investors, Regulators And Market Participants

The Depository Trust & Clearing Corporation (DTCC), ICI and SIFMA, on behalf of the T+2 Industry Steering Committee (T+2 ISC), commend the U.S. Securities and Exchange Commission (SEC) for finalizing rule changes that facilitate the industry’s transformational effort to achieve a two-day settlement cycle (T+2). The revised SEC rule establishes a standard settlement timeframe of two days for U.S. equity, corporate and municipal bond, and unit investment trust (UIT) trades, providing regulatory certainty to promote a coordinated and effective industry transition to T+2 on September 5, 2017.