On February 15, 2023, the SEC finalized its requirements for the May 28, 2024, implementation date for the change to T+1 settlement for transactions in US cash equities, corporate debt, and unit investment trusts. This means that trade-related settlements must be completed within a day, or 24 hours, of the completion of a transaction.
We have provided guidelines for what needs to be completed to ensure that your organization is ready for the change. We have also highlighted our SEAL framework which can be used for this organizational change.
The transition to T+1 settlement will be a significant change for any financial services company as it requires updates to technology systems, processes, and procedures. The transition also requires careful planning, coordination, and communication across the organization to ensure a smooth transition and to minimize potential risks or disruptions.
As the premium advisory services arm of Randstad Technologies Group, Celerity is a business and technology consulting firm dedicated to helping businesses respond to change—efficiently, quickly, and with focus on the customer. We specialize in digital transformation including customer experience, change management, operational efficiency, and the integration between them all.
Let us help you prepare now for the T+1 settlement transition coming on May 28, 2024.
ABOUT THE AUTHOR
Jack Leach leads our Banking and Financial Services practice. His consulting experience includes consulting leadership roles with leading firms like Deloitte where he brings a unique combination of industry and consulting experience working for and with top banks and financial institutions within the US, Canada, and Europe. During Jack’s career, he has worked in more than 25 different banks and financial service institutions.
Keep up with the latest on Responsive Enterprises
Sign up for our quarterly e-newsletter, the perfect combination of thought-provoking original and curated content designed to spur dialogue and thinking around increased resilience in the face of change.