US stock trades have transitioned to settling in 1 day instead of 2, marking a significant shift in Wall Street's operations. The move aims to benefit investors by reducing risk and enhancing efficiency. The change to T+1 settlement has been met with both celebration and skepticism, with some highlighting the potential for improved capital efficiency and reduced risk. Foreign investors are preparing for challenges in securing dollars before the deadline, potentially leading to failed trades. The transition to a faster settlement cycle is seen as a positive step towards further adoption of blockchain technology in finance.
‘Time is money and time is risk’ proclaimed Gensler ahead of T+1 implementation, but how is the market feeling as the reality of T+1 hits https://t.co/3x09PoclIR
Wall Street's faster trade settlement sees some temporary bumps https://t.co/uKt3xAnyNo https://t.co/wmTeYtyGDB
Reminder – T-1 Settlement Starts Today, Tuesday, May 28, 2024 https://t.co/XwQw4PhEz2 #Securities #Amendment #Rules @jonnajarian https://t.co/FV7ylXBFzH
The finance industry met a key target to process US securities trades faster on the first day of new one-day settlement rules, although there were some delays to overnight systems. https://t.co/bUNrUkZhTU
Two years of my professional life (2017 → 2019) were dedicated to building a securities clearing & settlement system atop the NSCC/DTCC — and the then-industry-wide T+3/T+2 timeline (It's one of the things that brought me to crypto ✨) Today, 7 years later, we've got T+1...
T+1 is the new T+2
And T+2 is gone! This was not an easy change to implement, but it's one more step toward the goal of real-time settlement. https://t.co/ySQ7g3UwXp
It's double-settlement Wednesday! #T+1
🔵 FINANCIAL MARKETS ASSOCIATION PLEASED WITH SHIFT TO FASTER TRADE SETTLEMENT Full Story → https://t.co/vwSJrB6q2r The Securities Industry and Financial Markets Association (Sifma) said on Wednesday it is pleased with the transition to faster trade settlement, adding it… https://t.co/q4oXxUawzV
⚠️ DEPOSITORY TRUST AND CLEARING CORPORATION (DTCC) SAYS TOTAL TRADE AFFIRMATION RATE WAS 92.76% ON FIRST DAY OF FASTER SETTLEMENT (T+1), FROM 89.59% ON FRIDAY
⚠️ FINANCIAL MARKETS ASSOCIATION SIFMA SAYS IT IS OPTIMISTIC ABOUT THE PROGRESS OF THE TRANSITION TO FASTER (T+1) SETTLEMENT TO DATE
REMINDER: All those US stock trades you made on Friday and yesterday settle TODAY.
It took Wall Street 100 years to get the settlement time down to T+1. Now it works faster but the paper people are really stressed out all the time.
Great job. You’ve moved to T+1 settlement because it enhances capital efficiency and reduces risk. If only there was a technology that could unlock T+0 settlement….Guess what? There is. It’s called #tokenization made possible through blockchain tech. https://t.co/KGazM7D4aN
“On February 15, 2023, the SEC adopted rule amendments to shorten the standard settlement cycle for most broker-dealer transactions from “T+2” to “T+1” …. The compliance date for the rule amendments is May 28, 2024, at which point the standard settlement cycle will be T+1.” https://t.co/w85Ma5xj50
CALLING BALLS & STRIKES as I see ‘em: the @SECGov & @GaryGensler got this one right. Moving to T+1 from T+2 does protect Mom&Pop investors by reducing shenanigans that happen between trade & settlement. They got this right. Congrats https://t.co/8gDwGTUAPD
New T+1 stock-settlement rule could help active traders avoid getting their accounts frozen https://t.co/VSuiAvRkSm
New T+1 stock-settlement rule could help prevent these trading violations https://t.co/Dif0cWEIik
#TradFi flexes its muscles… …with Wall Street finally returning to T+1 settlement a century later! 👏😆 https://t.co/lr5uH2JLwF
Crypto is T+0. T+1 and T+2 are old, dangerous and inefficient. Replace the asset, ownership, rights and monetary rails with the best technology we have. Blockchain. I agree @matthew_sigel
Reminder – T-1 Settlement Starts Today, Tuesday, May 28, 2024 https://t.co/XwQw4PhEz2 #Securities #Amendment #Rules @Mintz_Law https://t.co/mbH5RMpNbD
As the U.S. prepares to shorten its settlement cycle for equity and corporate bond trades, foreign investors are bracing for potential difficulty in securing dollars before the deadline that could result in failed trades. https://t.co/fMRBVLsUJi
How is T+1 going today? Anyone notice anything change?
The future of finance is continuous and global: a quick 🧵 of my thoughts on the T+1 settlement transition and how it helps further crypto adoption.
Explainer: What to expect as US moves towards faster stock settlement https://t.co/GzftsJ9u99 https://t.co/q1d0bNE519
LMAO took the TradFi boomers over three years to change from two day settlement periods to one day. And they're celebrating the "achievement" 🤡 https://t.co/shoVC5Rauc
LMAO took the TradFi boomers over three years to change from two day settlement periods to one day. And they're celebrating it 🤡 https://t.co/shoVC5Rauc
Today’s trading in U.S. securities markets is on a T+1 standard settlement cycle and will settle tomorrow. We @SECGov are closely monitoring the transition to a faster settlement cycle that will benefit investors and take risk out of the system.
Wall Street has returned to T+1 stock trading for the first time in a century. @rachelevans_ny explains what it means for markets https://t.co/7WFvxXnZdO https://t.co/2tMwxoCHgh
JUST IN: US stock trades will now settle in 1 day instead of 2 starting today! 📈 #Bitcoin is changing Wall Street. https://t.co/ocwunRFbMR