SEC Approves T+2 Settlement

Standard settlement cycle shortened

ELLIOTT R. CURZON, K. SUSAN GRAFTON, NATHANIEL T. DREYFUSS, DECHERT LLP

The US Securities and Exchange Commission (SEC) on March 22, 2017 adopted amendments to Rule 15c6- 1(a) under the Securities Exchange Act of 1934 (Exchange Act), to shorten the standard settlement cycle for securities transactions by broker-dealers from three business days after the trade date (T+3) to two business days following the trade date (T+2).1 The amendments are a response to changes in markets, technology, operations and infrastructure since the T+3...

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