SHORTENING THE SETTLEMENT CYCLE: THE MOVE TO T+2
The T+2 Industry Steering Committee (T+2 ISC) published an Implementation Playbook on Monday, December 21, 2015, developed with Deloitte Advisory. The Playbook provides a detailed timeline, milestones and dependencies that impacted market participants should consider in order to migrate to a two-day settlement cycle (T+2) from the current three-day settlement cycle for U.S. equities, corporate and municipal bonds, and unit investment trust (UIT) trades by the end of Q3 2017. We encourage market participants to read the Playbook, which is available at http://www.ust2.com/pdfs/T2-Playbook-12-21-15.pdf.
We welcome comments and questions.