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Shortened Settlement Cycle for Securities Transactions


On September 5, 2017, the securities industry changed the business day standard settlement cycle of securities transactions covered by the T+3 settlement cycle to a T+2 settlement cycle.  The amended rule began covering securities that were traded on September 5, 2017, and settled on September 7, 2017.  This change in the settlement cycle was implemented throughout the financial sector to reduce credit, market, and liquidity risks for central counterparties, their members, and other stakeholders.

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