Settlement date for trades

Transition to T+1 Settlement date for trades.

In 2024, North American capital markets will shorten the standard settlement cycle for most trades in securities from two days after the date of the trade (T+2) to one day after the date of the trade (T+1).

The expected benefit of a shortened settlement cycle is to reduce counterparty risk and increase overall market efficiency.

The U.S. Securities and Exchange Commission mandated Tuesday, May 28, 2024, after the Memorial Day long weekend, as the T+1 transition date for U.S market participants.

The first day of T+1 trading in Canada will be Monday, May 27, 2024.

Is there anything I need to do to get ready for the move to T+1?

No. There are no changes to the settlement process, other than for assets currently on a T+2 basis the funds will settle one day sooner.

How does the move of the settlement date of my trades to T+1 affect me?

The shorter settlement cycle means funds will become available sooner following a stock or ETF sale.

Do you have any further questions? Don’t hesitate to contact anyone on our team

• Your Creed Capital Management Team